South Korea: Police Raid YG Entertainment’s Headquarters After Ex-CEO Booked For Gambling

South Korea: Police Raid YG Entertainment’s Headquarters After Ex-CEO Booked For Gambling

South Korean police conducted a surprise raid on the headquarters of YG Entertainment on Saturday over gambling charges on its former CEO, Yang Hyun-suk.

Earlier this week Suk was charged with gambling. He is also the chief producer of the influential K-pop label.

Both Yang, 49, and Seungri, a former member of the K-pop boy band BIGBANG, were booked by the Seoul police for gambling huge sums of money at casinos abroad.

On Saturday investigators from the Seoul Metropolitan Police Agency were sent to collect evidence at the headquarters of YG Entertainment in Mapo Ward, western Seoul, at 9 a.m.

According to the reports in the local media, the police have confirmed that they are also investigating whether Yang and Seungri violated the foreign exchange transaction law to secure gambling funds.

According to the gambling rules in South Korea, it is illegal for people to participate in gambling in the country and even outside the country where it is legal. However, normally if caught gambling overseas it is likely that one gets away with a warning.

The duo has also been embroiled in controversies earlier. Yang was booked last month on suspicions that he arranged sex services for foreign investors in 2014 while treating them at a posh restaurant.

Yang resigned from YG Entertainment amidst all the controversy and allegations.

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