KB Securities fined KRW 500 million for 'negligent supervision of the Lime Fund'

The court ruling sentenced a fine of 500 million won to a KB Securities corporation accused of neglecting its duty of care and supervision in connection with the so-called Lime scandal, which caused 1.6 trillion won in damage.

The Supreme Court confirmed the original ruling on the 20th (the 20th) that sentenced KB Securities Co., Ltd. to a fine of 500 million won for violating the Capital Markets Act.

In addition, the court ruling sentenced former team leader Kim of KB Securities, who was accused of taking private interests by selling Lime funds, to two years in prison, and suspended prison sentences or suspended sentences for four former and current executives and employees, respectively.

Like the lower court, the Supreme Court found KB Securities guilty of falsely listing the fund as if it did not receive a fee when selling it, but found it innocent of selling it to investors even though it knew of the fund's insolvency.

Earlier, KB Securities employees were indicted in 2021 on charges of conspiring with Lime officials to design, manage and sell the fund by concealing the substance of investment assets, and KB Securities, a fund seller, was also indicted under punishment regulations.