Police find US$11m of missed Landing cash, suspects sought

Jan 14, 2021 Newsdesk Latest News, Rest of Asia, Top of the deck  

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Police on Jeju island, South Korea, say they have recovered about KRW12 billion (US$10.9 million) in cash from what was initially thought to have been a KRW14.56-billion theft from casino investor Landing International Development Ltd, reported Yonhap news agency on Thursday.

Three people are still being sought over the matter.

KRW8.15 billion was discovered in a VIP room safe at Landing Casino (pictured), at the Jeju Shinhwa World resort constructed by Landing International Development. A further KRW4 billion was found at the last known accommodation of a 55-year-old Malaysian female executive said to have been in charge of the original pile of cash.

All of the retrieved money is in new KRW50,000 bills, Yonhap cited a Jeju police officer as stating.

Two other people – neither said to be employees of Landing Casino – now feature in the police’s theft probe, reported Yonhap.

One was a Chinese national aged in their 30s. Neither the gender of that person was disclosed, nor the nationality or gender of the third person of interest, although the latter was described as still being in South Korea, the report said.

Hong Kong-listed Landing International Development issued a filing last week, stating that the firm had reported the money as missing. The company added it had been unable to reach the woman concerned.

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