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Embezzlement Suspected at Korean Casino

31 March 2002

SOUTH KOREA -- March 31, 2002 -- As reported by ``Chuncheon District Prosecutors conducted a seizure search on the casino Gangwon Land Friday.

``Prosecution confiscated all accounting books and inspection records from October, 2000, when the casino opened, to end of last year, and is investigating alleged ledger fabrication with related accountants.

``A source from the prosecution said that there has been suspicion that the Gangwon Land created and embezzled a huge amount of illegal funds by fabricating financial transaction records, and if the evidence of embezzlement or illegal fund is caught, an intense investigation will follow.

``Gangwon Land has exclusive rights to operate a casino for Korean nationals..."

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