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[Alpha Biz=(Chicago) Reporter Kim Jisun] According to the financial investment industry on the 23rd, R, former director of KB Asset Management's Real Estate Finance Headquarters, and L, former director of Mirae Asset Securities' Investment and Development Headquarters, are under investigation at Gwangjin Police Station and Jungnang Police Station in Seoul on charges of fraud, forgery and exercise of private documents.
They were found to have been sued for offering false investment agreement (LOC) to six to seven individuals who colluded in a project to develop a residential and commercial complex in Guwol-dong, Incheon, in 2021 to lend 3.7 billion won in land deposit. Mirae Asset Securities as well as the major shareholders accused them. Mr. L was recently accused of forging an overseas alternative investment loan agreement worth 280 billion won.
Land deposit loans, the first step in real estate PF, are the most risky investment. If you do not get permission or Bridgeron does not succeed in paying the balance in the future, you will lose all your investment. Instead, the yield is around 100% per year. Interest is paid in the name of various fees to avoid the interest restriction law, which binds 20% per annum. The reason for LOC fraud is that it is easy to make a lot of money in this process.
Mirae Asset's LOC is money in itself. You can easily raise money by deceiving investors and pay less interest. It is a structure in which money saved by counterfeit LOC goes into their pockets.
What was discovered in an internal audit of Hi Investment & Securities is also a case in which executives and employees made subordinated loans under borrowed names. The industry does not believe that they made a borrowed-name investment to earn 10% per year. The prevailing view is that there must have been some kind of "black deal" with the developer. K-REITs Investment Management executives promised to sell their real estate and received bribes, the survey showed.
AlphaBIZ 김지선(stockmk2020@alphabiz.co.kr)
