South Korean Casino Discovers £10 Million Missing from Its Safe

January 12th, 2021 3.00pm

What a start to the year for the Jeju Shinhwa World casino resort. Owned by Landing International, the property is located at one of the most popular tourist destinations in South Korea.

The local police have been looking for one of the casino’s employees after the Hong Kong-headquartered operator reported an unprecedented theft.

According to available information, nearly £10 million in cash has been stolen from the casino’s safe. At this moment, the authorities believe the money is still on the island. And you’ll love their explanation why.

A Christmas “Bonus”

Yonhap, the South Korean news agency, reports the only suspect in this robbery is a female employee from Malaysia. The woman in charge of cash went on a vacation just before Christmas and has gone missing since. All attempts to get in touch with her have so far failed.

Everyone is wondering what happened with the money, as it would be complicated to move such a large amount of cash around without attracting attention.

According to the police report, a total of 291,200 bills have gone missing. That’s enough to fill a dozen apple boxes. The total weight of the stolen banknotes exceeds 617 lbs. That’s why police are almost sure the money hasn’t left the island. However, they are keeping all possibilities open and are continuing to monitor all airports and seaports.

What Happened to the Security Footage?

The Juju police have also revealed that someone erased all security footage from the time of the theft. Some even believe that more than one person was involved in the heist, mostly because it would be difficult to transport so much cash.

However, in an interview for The Korean Times, one of the police officers on the case made a shocking revelation. According to the ongoing investigation, it appears the money has been moved from the casino over seven or eight months.

If that’s true, then many other questions need to be answered, since it should be next to impossible to take so much money over such a period of time without anyone noticing.

Jeju Shinwa World casino resort consists of hotels, theme parks (including a waterpark), and an entertainment centre. Although opened in 2018, the venue prohibits locals from gambling and offers its services only to foreigners. That’s the case with all South Korean casinos, except for one.

The news couldn’t come at a worse moment for Landing International. A couple of weeks ago, the company made the headlines after the Chairman of the company’s board Yang Zhihui was accused of manipulating the securities market. Although there was no evidence of his wrongdoings, Yang Zhihui resigned in mid-December. The China Securities Regulatory Commission immediately started an investigation of its own.

Similar Cases in the Past

This is not the first time that a casino employee goes missing with cash.

In September 1992, Bill Brennant, a cashier working at the Stardust sportsbook in Las Vegas, ended his shift, as usual, took his bag, said goodbye to his coworkers and left home.

But no one knew that Brennant carried around £370,000 in his bag. In cash. He left the work that day, never to bee seen or heard ever again.

Last year, an angry Marina Bay Sands high roller filed a lawsuit against the casino, claiming that employees of this venue in Singapore had transferred around £4.8 million of his funds to other customers. The two sides settled a complaint in July 2020. Las Vegas Sands later investigated alleged transfers of nearly £740 million to other casino patrons.

 

 


It looks like security at the casino is not doing its job