[Alpha Biz=(Chicago) Reporter Paul Lee] The head of an asset management company who pocketed billions of won in profits from real estate redevelopment information acquired during the fund's management process has been caught by financial authorities.

The Financial Supervisory Service says it has found violations of the CEO of an asset management company, including the use of undisclosed job information, damage to fund profits and unfair influence.

After receiving information that the operator was buying land for redevelopment, A bought the land at a low price under the name of a related company and then resold it to make billions of won in profits.

It has also been confirmed that the company's deposits were unfairly provided as collateral to obtain land purchase funds.

The Financial Supervisory Service said it has decided to take stern measures against A and informed investigative authorities of the illegality.

 

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