Police Reportedly Investigating Link Between Yang Hyun Suk’s Gambling And Profits From YG Artists’ Concerts
According to the report, police are tracing the source of Yang Hyun Suk’s gambling money and investigating whether he gambled using the proceeds from YG Entertainment artists’ overseas performances.
After obtaining data from a casino association in Nevada, the police are currently analyzing the number of times Yang Hyun Suk gambled, how much he gambled, and whether he won or lost in order to determine the source of his money.
The police will also look into the possibility of Yang Hyun Suk using another method of funding his gambling besides “hwanchigi,” a term that refers to illegal practices surrounding foreign exchange transactions. He is suspected of depositing money in Korean won to a hwanchigi dealer and receiving the funds in U.S. dollar from another dealer after deducting fees.
According to Channel A, a source from the police explained that they will also be investigating possible links between Yang Hyun Suk’s gambling money and YG Entertainment artists’ U.S. concert profits, as well as the agency’s company funds.
Police will reportedly also look into Yang Hyun Suk’s younger brother and former YG Entertainment CEO Yang Min Suk. The two brothers were previously investigated by police on suspicions of prostitution mediation and tax evasion.
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