Yang Hyun Suk is under suspicion of illicit foreign exchange and overseas gambling.
According to Ilyo Shinmun, Yang Hyun Suk was found to have engaged in unregistered foreign exchange transactions, and the police are currently suspecting that the money may have been used as funds for gambling abroad.
The police were first informed about the suspicions in April and officially began investigating the suspicions on August 7. The Seoul Metropolitan Police Agency’s Sophisticated Crime Investigation Division received the related data from the Financial Intelligence Unit (FIU) and confirmed that there were suspicious money transactions.
FIU is an organization under the Financial Services Commission that was established to prevent money laundering and illegal outflows of foreign currencies. They provide data to eight designated institutes like the police, prosecution, and the National Tax Service when necessary for investigations.
Dispatch further reported on the overseas gambling suspicions. Yang Hyun Suk reportedly used a VIP room at a hotel in Las Vegas, United States and played Baccarat. An anonymous informant stated, “There’s no need for him to take money for gambling, as he can borrow dollars locally and return the money in won in Korea. As far as I know, he usually exchanges ‘by hand.’ Someone from Yang Hyun Suk’s side personally delivers [the money] to the illicit money exchange dealer.”
According to FIU, he also used bank accounts for the illegal transactions. Approximately 1.3 billion won (approximately $1 million) were exchanged by unregistered foreign exchange transactions.
A source from the police stated in a call with Dispatch, “We are currently analyzing the data we received from FIU. We are gathering evidence regarding the overseas gambling from various sources.”
A source from YG Entertainment shared, “We also found out about this through the reports. There is nothing else we can confirm.”
Dispatch reveals Yang Hyun Suk illegally gambled in Las Vegas, with 1.3 billion won of transactions that are suspected to be linked to the gambling— mes #TeamPinky (@OH_mes2) 8. August 2019
It's rumored he went back in Feb 2018 with Han Dong Chul + other MIXNINE staff, after the show endedhttps://t.co/gVxoUr3CmE pic.twitter.com/9OKzPlLfJr
source: soompi, OH_mes2, dispatch, ilyo, naver