Na Kyung-won accuses 'ETF national fraud trio'... Article 54 Loss Claims

Interview with Kim Tae-gyu and Yoon Yong-geun... “Article 54: Fraud and abuse of power by causing loss to the people”

(Seoul = Yonhap News) Reporter Noh Seon-woong = People Power Party lawmaker Na Kyung-won said on the 4th, "I am reporting the 'ETF national fraud trio' Kim Yong-beom, Lee Chan-jin, and Lee Eok-won, who caused a loss of 54 trillion won to the public, to the High-ranking Public Officials Crime Investigation Office."

On this day, Rep. Na held a press conference at the National Assembly along with Reps. Kim Tae-gyu and Yoon Yong-geun of the same party who are members of the National Assembly Steering Committee, and said, "We are accusing them of serious crimes such as fraud, abuse of power, dereliction of duty, and conflict of interest under the Act on the Aggravated Punishment of Specific Economic Crimes."

Rep. Na said, "At 10:30 a.m. on August 30, at the National Assembly, we asked about the reasons behind the hasty introduction of ETFs and called for a government investigation, a special prosecutor, and the resignation of the trio. Coincidentally, just an hour later, at 11:30 a.m., the Lee Jae-myung administration made a surprise announcement of a major cabinet reshuffle of six ministries." He added, "However, the names of the ETF trio, who should have been the first to take responsibility and step down, were omitted from the list. The key point is missing. “It was a cabinet reshuffle,” he pointed out.

At the same time, he said, "This case is not a case of investment failure under the responsibility of individual investors. The 54 trillion won in asset loss and the hasty introduction of leveraged ETF products are considered major factors," and claimed, "It is a 'state-led fraud' in which economic leaders and financial leaders colluded with large capital to force the public into an 'ultra-high-risk gambling den' set up by the state."

In addition, he said, "All of the 'ETF national fraud trio', not only former Director Kim Yong-beom, but also Financial Supervisory Service Director Lee Chan-jin and Financial Services Commission Chairman Lee Eok-won, must resign immediately," and added, "Starting with today's complaint, cooperate in finding the truth about the 54 trillion won in loss to the public. That is the only way to wipe away the blood and tears of the people."