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Korean Police To Wrap Up Investigations On Former YG Entertainment CEO Yang Hyun-Suk, Likely To Recommend Indictment
Korean Police To Wrap Up Investigations On Former YG Entertainment CEO Yang Hyun-Suk, Likely To Recommend Indictment
Asia

Korean Police To Wrap Up Investigations On Former YG Entertainment CEO Yang Hyun-Suk, Likely To Recommend Indictment

South Korean Police have confirmed that they are to close the investigations on former YG Entertainment CEO Yang Hyun-suk and ex-Big Bang member Seungri – the duo was booked on the charges of online gambling abroad and money laundering.

According to the local media reports, the Seoul Metropolitan Police will be submitting the investigation papers to the prosecution tomorrow with recommendations for formal charges against several individuals apart from the duo.
Also, the Sophisticated Crime Investigation Division on its website has said that besides Yang Hyun-suk and Seungri, five other individuals would also face the same charges.

Local media reports, quoting a police source: “We checked financial accounts, currency exchange details, and corporate accounting data during the five-year statute of limitations and we investigated all of the informants and partners.”

“We were unable to find any violations of the Foreign Exchange Transaction Act.”

Earlier in August, Yang Hyun-suk and former Big Bang member Seungri were booked on charges of consistent gambling and gambling overseas.

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.

It is reported that Yang and Seungri had been involved in gambling a large sum of money overseas which clearly violates the South Korean gambling laws. As such the duo may land in trouble as the police have already confirmed that they are booked over charges of gambling. The investigation is ongoing.

About the author

Harry Matthew

Harry Matthew

Harry serves as a resident reporter for Casino Buzz. He has been responsible for building the content base and forms the core reporting strategies for the website. Along with reporting, Harry is an amazing baseball player with good record at university level. He can be reached at [email protected]

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