August 09, 2019 12:05
Police are investigating top music producer Yang Hyun-suk, the former CEO of pop behemoth YG Entertainment, on gambling charges.
Yang is suspected of exchanging around W1.3 billion to gamble with overseas (US$1=W1,210).
"We got a tipoff that Yang gambled overseas and have secured evidence supporting the accusation," a police spokesman said Thursday.
Korea is among a handful of countries that punish gambling by their own nationals even in countries where it is perfectly legal.
Police obtained financial records from the Financial Intelligence Unit, which tracks the flow of capital to determine money-laundering or illicit transfers of funds out of Korea.
Yang is also being investigated for arranging sexual services for a foreign investor back in 2014.
- Copyright © Chosunilbo & Chosun.com