Yang Hyun Suk Under Investigation For Illegally Gambling Over 1 Million Dollars Overseas
Another suspicion has been added to Yang Hyun Suk following the accusations made against him that he provided prostitutes to foreign investors. This time, he is being accused of illegally gambling overseas.
The Seoul Metropolitan Police Agency will initially hold an internal investigation on the accusations that Yang Hyun Suk illegally gambled overseas. They plan to summon him for questioning after securing more details and information on the accusations.
In April 2019, police obtained intelligence that Yang Hyun Suk had illegally gambled overseas. In response to the tip, the Financial Intelligence Unit (FIU) launched an investigation into Yang Hyun Suk’s accounts.
According to the FIU, records showed transactions totaling more than ₩1.3 billion KRW ($1,074,066 USD). Accounts were set up in both South Korea and the United States, and the money was deposited in Won, and withdrawn in Dollars.
Dispatch obtained various tips regarding Yang Hyun Suk’s illegal gambling in Las Vegas. It is believed that he stayed in a VIP room at the MGM Grand.
Yang Hyun Suk reportedly borrowed dollars in Las Vegas and gambled at high-stakes baccarat tables. With gambling being illegal for Koreans, many who try to circumvent this law will borrow currency in the country they are gambling in. If they win money, they will return the money they borrowed, but if they lose money, they repay the lender in Korean Won.
You don’t have to carry the money to the country you are gambling in. You can just borrow the money there, and pay it back in Korean Won.
According to the FIU, Yang Hyun Suk used these sorts of transfer accounts. The amount of unregistered foreign transactions that the police could uncover totals ₩1.3 billion KRW ($1,074,066 USD)
Yang Hyun Suk is rumored to have gone on his Las Vegas trip in February 2018 to celebrate the conclusion of his audition survival program MIXNINE. PD Han Dong Chul and other staff members who worked on the show also made the trip.
Korean law states that any citizen of the country is prohibited from gambling, whether it be in the country or overseas. There is only one casino in the world that Koreans are allowed to gamble at: Kangwon Land. If caught gambling anywhere else, violators can face fines of up to ₩20 million KRW or 3 years in jail.