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<\/div>\nPolice in South Korea have busted a casino extortion ring targeting wealthy individuals. The Gyeonggi Southern Police Agency reported that the criminals were using various methods to bribe and mislead victims.<\/p>\n
The Narcotics Crime Investigation Unit, International Crime Investigation Division, carried out the operation.<\/p>\n
South Korean police take action against extortionists<\/span><\/h2>\nA press release<\/a> from the authorities stated that twelve suspects were apprehended, with six arrested, and that one individual detained overseas is now being sought as part of a repatriation process.<\/p>\nChief Kim Jun-Young said the police arrested \u201c12 people, including the head of a so-called setup crime organization, who lured wealthy individuals overseas under the pretense of golf trips between December 2022 and April 2024, then extorted money under the guise of cracking down on underage prostitution or embezzled a total of 1.19 billion won ($850,000) through casino fraudulent gambling.\u201d<\/p>\n
Extortionists target wealthy individuals for $850,000<\/span><\/h2>\nAn individual known only as Mr A is reportedly the \u201cmastermind\u201d behind the group and actions to swindle money from targeted wealthy victims. Mr A allegedly used tracking locators on the victims’ vehicles to ensure he had their exact location to carry out the planned fraud.<\/p>\n
One South Korean<\/a> national was targeted whilst playing golf in November 2022. Mr A and his accomplices are reported to have enticed the individual to join a golf trip in Thailand, but unbeknownst to the victim, they would be involved in a deeper extortion scheme.<\/p>\nThe report stated that the criminal group \u201cinduced the victim into engaging in prostitution of a minor, and then extorted 240 million won ($172,000) under the pretext of covering up the prostitution of a minor.\u201d<\/p>\n
Between October 2023 and April 2024, Mr A also executed a scheme to lure wealthy golfers to Cambodia with the \u201cpromise of an overseas golf trip, and defrauded them of 950 million won ($683,000) by making them lose money at casinos.\u201d<\/p>\n
Mr A is reported to have designated roles for his group and recruited Cambodian casino officials to make the victim \u201cowe $700,000 in gambling debt”. Staging scenarios where the targets were misled to believe that one of their group was being held hostage at the casino to extort a fee of 650 million won ($467,000).<\/p>\n
South Korean police urge caution on casino scams<\/span><\/h2>\nChief Kim Jun-young urged caution, saying, \u201cthat this type of setup crime is characterized by the fact that victims are drawn into the crime without being aware of the situation and tend to be reluctant to report the crime because they think they are also involved in the crime, so special care is needed.\u201d<\/p>\n
The South Korean Police have requested to seize the passport of the individual in custody overseas and asked the \u201cInternational Criminal Police Organization (Interpol) to issue a red notice for his arrest.\u201d<\/p>\n
We reported that the only South Korean casino<\/a> where locals are allowed to gamble issued a public statement about online casino fraud. Kangwon Land refuted connections to illegal online gambling platforms and urged the Korea Communications Standards Commission to block any sites imitating their branding.<\/p>\nFeatured image credit: Ideogram.<\/em><\/p>\nThe post South Korean Police bust wealthy casino extortion ring<\/a> appeared first on ReadWrite<\/a>.<\/p>\n
Chief Kim Jun-Young said the police arrested \u201c12 people, including the head of a so-called setup crime organization, who lured wealthy individuals overseas under the pretense of golf trips between December 2022 and April 2024, then extorted money under the guise of cracking down on underage prostitution or embezzled a total of 1.19 billion won ($850,000) through casino fraudulent gambling.\u201d<\/p>\n
Extortionists target wealthy individuals for $850,000<\/span><\/h2>\nAn individual known only as Mr A is reportedly the \u201cmastermind\u201d behind the group and actions to swindle money from targeted wealthy victims. Mr A allegedly used tracking locators on the victims’ vehicles to ensure he had their exact location to carry out the planned fraud.<\/p>\n
One South Korean<\/a> national was targeted whilst playing golf in November 2022. Mr A and his accomplices are reported to have enticed the individual to join a golf trip in Thailand, but unbeknownst to the victim, they would be involved in a deeper extortion scheme.<\/p>\nThe report stated that the criminal group \u201cinduced the victim into engaging in prostitution of a minor, and then extorted 240 million won ($172,000) under the pretext of covering up the prostitution of a minor.\u201d<\/p>\n
Between October 2023 and April 2024, Mr A also executed a scheme to lure wealthy golfers to Cambodia with the \u201cpromise of an overseas golf trip, and defrauded them of 950 million won ($683,000) by making them lose money at casinos.\u201d<\/p>\n
Mr A is reported to have designated roles for his group and recruited Cambodian casino officials to make the victim \u201cowe $700,000 in gambling debt”. Staging scenarios where the targets were misled to believe that one of their group was being held hostage at the casino to extort a fee of 650 million won ($467,000).<\/p>\n
South Korean police urge caution on casino scams<\/span><\/h2>\nChief Kim Jun-young urged caution, saying, \u201cthat this type of setup crime is characterized by the fact that victims are drawn into the crime without being aware of the situation and tend to be reluctant to report the crime because they think they are also involved in the crime, so special care is needed.\u201d<\/p>\n
The South Korean Police have requested to seize the passport of the individual in custody overseas and asked the \u201cInternational Criminal Police Organization (Interpol) to issue a red notice for his arrest.\u201d<\/p>\n
We reported that the only South Korean casino<\/a> where locals are allowed to gamble issued a public statement about online casino fraud. Kangwon Land refuted connections to illegal online gambling platforms and urged the Korea Communications Standards Commission to block any sites imitating their branding.<\/p>\nFeatured image credit: Ideogram.<\/em><\/p>\nThe post South Korean Police bust wealthy casino extortion ring<\/a> appeared first on ReadWrite<\/a>.<\/p>\n
The report stated that the criminal group \u201cinduced the victim into engaging in prostitution of a minor, and then extorted 240 million won ($172,000) under the pretext of covering up the prostitution of a minor.\u201d<\/p>\n
Between October 2023 and April 2024, Mr A also executed a scheme to lure wealthy golfers to Cambodia with the \u201cpromise of an overseas golf trip, and defrauded them of 950 million won ($683,000) by making them lose money at casinos.\u201d<\/p>\n
Mr A is reported to have designated roles for his group and recruited Cambodian casino officials to make the victim \u201cowe $700,000 in gambling debt”. Staging scenarios where the targets were misled to believe that one of their group was being held hostage at the casino to extort a fee of 650 million won ($467,000).<\/p>\n
South Korean police urge caution on casino scams<\/span><\/h2>\nChief Kim Jun-young urged caution, saying, \u201cthat this type of setup crime is characterized by the fact that victims are drawn into the crime without being aware of the situation and tend to be reluctant to report the crime because they think they are also involved in the crime, so special care is needed.\u201d<\/p>\n
The South Korean Police have requested to seize the passport of the individual in custody overseas and asked the \u201cInternational Criminal Police Organization (Interpol) to issue a red notice for his arrest.\u201d<\/p>\n
We reported that the only South Korean casino<\/a> where locals are allowed to gamble issued a public statement about online casino fraud. Kangwon Land refuted connections to illegal online gambling platforms and urged the Korea Communications Standards Commission to block any sites imitating their branding.<\/p>\nFeatured image credit: Ideogram.<\/em><\/p>\nThe post South Korean Police bust wealthy casino extortion ring<\/a> appeared first on ReadWrite<\/a>.<\/p>\n
Featured image credit: Ideogram.<\/em><\/p>\n The post South Korean Police bust wealthy casino extortion ring<\/a> appeared first on ReadWrite<\/a>.<\/p>\n