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US Gambling Trips Cost Korean Businessman29 October 2002SOUTH KOREA – As reported by the Korea Herald: "A 55-year-old former construction company chairman was indicted yesterday on charges of violating the nation's foreign exchange control law, the Seoul District Public Prosecutors' Office said yesterday. "Kim In-tae, ex-chairman of Kyongnam Construction Co., is suspected of borrowing $800,000 from the Mirage hotel in Las Vegas, the United States, on three occasions between 1995 and 1997 to gamble at the hotel's casino. "The prosecution said Kim violated the foreign exchange law that requires Koreans to obtain prior permission from the foreign-exchange authorities when they borrow dollars in excess of a permitted amount…" |