Dear Members of Haru Invest,
This is Hugo Lee of Haru Invest.
I have received many members’ questions regarding when the assets will be distributed. My heart is heavy with members who must be enduring various financial hardships, and I sincerely apologize. As the timing of asset distribution is being delayed notwithstanding my and Haru Invest’s efforts, some members even asked me whether I have fled abroad.
Due to the current progress, it appears that various types of anxiousness are being delivered to members. I will continue to concentrate on recovering the assets responsibly and returning them to members.
I hereby inform you about this week’s progress and answer your questions.
1. Unfortunately, my hands are tied at this time as to what I can provide as an answer regarding the timing of the asset distribution, which many members have inquired about. This is because the answer is not an issue only limited to the timing of the recovery of assets assigned to external investors; this is because the recovery is expected to proceed at the timing that would come after taking into account the time required to collaborate with investigating agencies in Korea, as well as the court’s decision on the rehabilitation/preservation disposition, etc. that were raised by some users as I had informed you earlier.
2. Our efforts targeting B&S Holdings to recover members’ assets are still ongoing, as are efforts to recover assets assigned to external managers other than B&S Holdings.
3. At the moment, Haru Invest and I are actively cooperating with Korean investigating agencies and court procedures in relation to lawsuits filed against us by some of the members. If I had hidden member assets or fled abroad as some members were concerned about, I would have been unable to answer the relevant investigation agency’s requests.
4. Apart from the above, as it became hardly possible to estimate the timing of asset recovery and distribution, and as the period is projected to be prolonged, we are trying to minimize operational expense spending that is still arising. Currently, expenses that account for a high percentage of the spending include office expenses, platform server fees, etc.; by reducing these expenses, we hope to establish the groundwork for continuing mid-to-long-term contact with members.
Currently, although several requests must be addressed externally, Haru Invest and I have limited resources to that end. Hence, we would like to reiterate that it is difficult to fully reply to inquiries from individual members, and we wholeheartedly ask for your patience.
That concludes this week’s announcement.
Sincerely,
Hugo Lee, Haru Invest