Star investment guru John Lee steps down from Meritz Asset Management CEO

John Lee who has become the national mentor of retail investors during the recent liquidity-driven stock frenzy has offered to resign from CEO of Seoul-based securities firm Meritz Asset Management upon undergoing investigation by the Korean Financial Supervisory Service over allegations that he violated a conflict of interest obligation. Lee is accused of leading his company to invest in a local peer-to-peer real estate company, which was founded by his friend, and also has his wife as one of shareholders. Both Lee and Meritz deny the allegations, saying there’s nothing illegal about the investment.

[ⓒ Maeil Business Newspaper & mk.co.kr, All rights reserved]