Shinhan Investment Corp. ETF Loss Manipulation Case: Employees Indicted
Two employees of Shinhan Investment Corp. have been indicted in connection with a case involving exchange-traded funds (ETFs). The employees are accused of falsifying swap transactions in the company's computer system to conceal a loss of 130 billion won from last year's ETF futures trading. Through this manipulation, the employees illicitly received personal bonuses amounting to approximately 130 million won and 340 million won respectively.
The incident occurred within the ETF liquidity provider department, where the employees altered the company's profit and loss records to avoid reporting negative business outcomes to management. This manipulation disguised the losses as profits, undermining trust in the company and exposing vulnerabilities in financial institutions' internal control systems.
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'Concealment of 130 Billion Won Loss' - Two Employees of Shinhan Investment Corp Indicted Without Detention - SBS BizRelated to the incident last year where a loss of 130 billion won occurred due to futures trading of Exchange Traded Funds (ETFs) at Shinhan Investment Corp, two employees from the Liquidity Provider (LP) department have been brought to trial. According to the indictment submitted to Representative Park Eun-jung's office of the Korea Innovative Party by the Ministry of Justice today (10th), the Financial Securities Crime Joint Investigation Division of the Seoul Southern District Prosecutors' Office charged Mr. Cho, in charge of the ETF LP operations, and Mr. Lee, the department head, with fraud and obstruction of business.
Prosecutors Forward Two Employees of Shinhan Investment Corp to Trial over Alleged 130 Billion Won Loss Manipulation - Business PostProsecutors Forward Two Employees of Shinhan Investment Corp to Trial over Alleged 130 Billion Won Loss Manipulation
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'13 Billion KRW Loss Concealment' Two Shinhan Investment Corp Employees Indicted Without Detention - Digital TimesLast year, a liquidity issue caused a loss incident involving an exchange-traded fund (ETF) amounting to 13 billion KRW at Shinhan Investment Corp...
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