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South Korean Illegal Casino Busted

12 September 2006

SOUTH KOREA – As reported by Dong-A News: "In January 2006, a 43-year-old man lost five million won overnight playing the gambling game Baccarat at a casino in Jangan-dong, Dongdaemun-gu, Seoul.

"As he was leaving the 150-pyeong casino, a private money lender approached him. He made a loan on the principle of paying the principal and 10 percent interest before leaving the casino. He now has 450 million won in debt.

"A private casino owner and a money lender made 130 billion won from November 2005 when the gambling site opened to September 2006.

"two and another person were arrested on charges of operating the largest private casino in Korea, providing aid to a gang, and exploiting over 100 billion won through lending money with high interest by the Seoul Metropolitan Police Agency on September 11…"

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