As 2021 has just begun, an article appeared on the Korea Times. Indeed, the officials of a South Korean casino have noticed the disappearance of a large sum and, until now, the stolen millions have not been located. In order to reassure shareholders, the Hong Kong group Landing International Development Ltd, which owns the casino, has decided to reveal the details of the incident.
Mysterious disappearance of a large sum of money in South Korea
For several years, Jeju Island has been considered a dream destination rich in history and culture. Since 1948, it has hosted the Landing Casino, which not only offers an iconic landscape, but also a wide range of activities. Its authenticity lies in real casino games and betting. Jeju is also a venue for tournaments and various renowned festivals such as the Triton Super High Roller Series as well as the PokerStars Red Dragon .
A few days ago, South Korean residents faced a surprising announcement: during a press conference, the management of Landing International Development Limited announced that Jeju’s financial reserve is the victim of theft. One of the officials said: “We regret to inform you that a large sum has been stolen from the Jeju financial reserve. Authorities are conducting a thorough investigation to identify the culprit. In addition, the missing amount must be assessed by the experts within a few hours”.
Casino robbery details
Before the quarantine and the closure of its borders, South Korean residents were not allowed to gamble in land-based casinos. According to the country’s leaders, gambling slows down the creativity and dynamism of workers. Therefore, only tourists had the right to access it freely.
Around the start of the first quarter of 2021, officials conducted an internal audit. This process revealed the presence of huge fraud within the casino reserve. So far, it is estimated that the amount embezzled is around 14.5 billion won or £9,000,000 British Pounds.
The identification of the first suspects
During the investigation, the authorities noticed the absence of an employee. According to the theories put forward by the local police, the suspect is a woman of Malaysian origin. Responsible for the cash, she could have easily accessed the money contained in the reserve.
A senior casino executive says, “By referring to the company’s registry, we were able to determine the identity of the culprit. As the investigation is still ongoing, we cannot give you a name. Taking care to hide the offense, the culprit erased the sequences recorded by the surveillance videos. Local authorities searched her place of residence, but it appears that she left her home. Until new evidence emerges, South Korea is being kept isolated from the rest of the world.”
A call for caution launched by the investors of the Landing group
Although the investigation is still ongoing, the finer details are to be shared with the general public. It is an essential process that is completely understandable, since the omission of this type of offense can hinder the financial production of the entity.
Faced with this incident, the investors of the Landing group are calling for the greatest caution. Violations of this magnitude can harm the financial attractiveness of the company. An official of the Landing group announced as follows: “Taking into account the facts contained in the police reports, it is probable that the sum stolen is still on the island. No transactions over 1,000,000 won have been recorded. We trust the energy deployed by the local authorities”.
The consequences of theft in the casino
On Jeju Island, Shinhwa World Casino is one of the entities that exploits the most resources. With a surface area of approximately 5,500 m², the casino has over 155 live gaming tables as well as 230 slot machines. Landing therefore represents an important source of income for this region of South Korea.
According to experts, the loss of these millions may hamper the solvency of the Landing Group. Amplified by the pandemic that threatens the world, the future of the casino remains uncertain. Indeed, border restrictions prevent tourists from accessing the island, yet they are its main clientele.
Recently, the local police have just discovered that part of the stolen sum has been found. “Last Friday, we were able to find the 12 billion won in two different places. A sum of 8.1 billion won was found in a VIP safe at the Landing establishment and 4 billion won under the floor of the suspect’s house. These new elements brought to light, it is possible that the remaining 2.5 billion won are still in South Korea.