Haru Invest Addresses Rehabilitation Procedures and Asset Recovery Concerns

On August 20, 2023, Hugo Lee, the CEO of Haru Invest, released an official statement addressing the concerns and questions raised by its members. Lee emphasized that Haru Invest is not evading accountability and remains committed to the efficient recovery of members’ assets. He also clarified that the rehabilitation procedure requested by some members is deemed ineffective for the majority’s asset distribution needs.

In June 2023, Haru Invest faced significant challenges. The company suspended new deposits and investment features on June 13 due to crypto market uncertainties. Two days later, on June 15, Haru Invest initiated legal action against B&S Holdings for alleged fraud and embezzlement. Hugo Lee addressed these incidents on June 20, assuring investors of transparent communication and improvement.

Haru Invest is actively working to recover assets from B&S Holdings in collaboration with investigative agencies. The process, however, is expected to be lengthy. The company has also been considering strategies for efficient and equitable asset distribution to its members. This includes a plan to collect and distribute assets before presenting a summary to the rehabilitation court.

In a previous update, Haru Invest acknowledged receiving numerous inquiries from concerned members regarding the status of their assets. The company confirmed that determining the exact losses at B&S Holdings is ongoing. However, assets entrusted to internal teams and other partners are being returned without detected losses. Haru Invest is also contemplating the sale of company assets to cover losses and has taken steps to reduce operating costs.

Hugo Lee has expressed regret for the inconvenience caused to investors and remains committed to improving the situation. He assures members that Haru Invest will continue to provide updates and address concerns transparently.

Image source: Shutterstock