Busan police bust $557 million illegal gambling operator

Police in South Korea have apprehended a suspect who is alleged to have run an illegal gambling ring worth 800 billion won ($557.3 million).

Seoul Metropolitan Police Agency released footage of the 37-year-old suspected mastermind of the illegal gambling site. According to police sources, the individual was circling a local velodrome in Gwanak-gu, Seoul, at the time of the apprehension.

In a report released by The Korean Herald, news broke that the suspect evaded police custody despite repeated pleas from officers to cease and desist.

After a 500-meter pursuit, the Seoul Metropolitan Police Agency released images of the man exiting a vehicle and being surrounded by uniform officers.

The man is yet to be mentioned by name; however, the 800 billion Won ($557.3 million) he is suspected of earning via illegal gambling routes could land the individual a lengthy stay in prison.

South Korean law is incredibly strict on gambling within the country, with little exception for a select few license holders. Those who are found to be betting illegally or running an unlicensed premise could face a five-year jail sentence and a fine of 30 million won ($20,900).

Article 247 of Criminal Law in South Korea states, “Setting up Places for Gambling, etc. A person who, for gain, sets up a place or space for gambling shall be punished by imprisonment for not more than five years, or by a fine not exceeding thirty million won.”

In addition to this, those practicing illegal gambling could face a three-year jail term and a 10 million won fine ($6,940). If there are gamblers who receive multiple cautions and are termed “habitual” breakers of Article 247’s statutes, they can face a 20 million won ($13,882) fine as a result.

In related South Korean gambling news, a prominent public figure and comedian, Lee Jin-ho, was recently apprehended for his illegal gambling addiction.

He is alleged to have racked up $2 million in gambling debt and was also accused of peddling a loan scam.

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