Board of Audit and Inspection: “Numerous Cases of Mismanagement in Alternative Investment from Major Pension Funds in Pursuit of Private Interests,” Losses Could Amount to Hundreds of Billions The Board of Audit and Inspection announced in its report on the ‘Management and Operation Status of Alternative Investments by Major Pension Funds’ released on May 27 that it has uncovered numerous cases of misconduct, including the receipt of kickbacks by employees of the pension funds, proxy investments, and inadequate review processes. According to the report, the head of the Construction Mutual Aid Association, ‘A’, has been found to have received inappropriate rebates from foreign brokers during the investment process […]