JTBC Reports That Yang Hyun Suk’s Gambling Goes Back To Early 2000s In Macau
On August 9, JTBC’s “Newsroom” reported additional details about Yang Hyun Suk’s alleged gambling.
Earlier this week, it was reported that Yang Hyun Suk is being investigated by the police for illegal foreign exchange transactions and overseas gambling. Those earlier reports focused on allegations that Yang Hyun Suk engaged in gambling in an exclusive VIP room at the MGM Hotel Casino in Las Vegas.
Now, JTBC’s “Newsroom” is reporting that the police are investigating whether Yang Hyun Suk engaged in overseas gambling in Macau. The report states that Yang Hyun Suk has been known to frequent casinos in Macau since the early 2000s. Similarly to the Las Vegas case, Yang Hyun Suk reportedly engaged in gambling in VIP rooms at the MGM Hotel in Macau.
Furthermore, the report alleges that Yang Hyun Suk would bet somewhere between 7.5 million to 15 million won (about $6000-$12,400) per round. A source who also engaged in gambling in the same casino stated, “Mr. Yang could borrow any amount from the casino on credit even when he didn’t have cash. The bill collector would then go to Korea to be repaid in cash.”
This would be a form of “hwanchigi,” a term that refers to illegal practices surrounding foreign exchange transactions.
JTBC states that the police suspect that the amount of funds spent in illegal gambling in Macau was far greater than the amount spent in the United States because it was relatively easier to move money between Macau and South Korea.
In South Korea, citizens can be punished for gambling overseas even if the act is considered legal by local laws.