Daughter Embezzled Profits After Illegally Operating Gambling Business Following Father

[Asia Economy Honam Reporting Headquarters Reporter Park Jin-hyung] A daughter who took over from her father to operate an illegal gambling site and embezzled billions of won in criminal proceeds has been arrested by the police.

On the 13th, the Crime Proceeds Tracking Investigation Team of the Gwangju Police Agency announced that they have applied for an arrest warrant for A (in her 30s) on charges of opening a gambling space and violating the Act on the Aggravated Punishment of Specific Crimes on Concealment of Criminal Proceeds.

A is suspected of operating an illegal gambling site overseas with her father and embezzling criminal proceeds while evading the investigation.

A operated an illegal site that predicted Bitcoin trading prices and paid dividends if the bets were correct, through which she amassed 1,800 Bitcoins, worth more than 143 billion won at the time, in criminal proceeds.

A is known to have taken over the operation of this site on behalf of her father, who was convicted of fraud charges while running the illegal gambling site.

The police discovered circumstances where A and her family used acquaintances' names to cash out Bitcoins used in the crime, successfully recovering 320 out of 1,800 Bitcoins (worth about 25 billion won at the time).

Due to daily transaction limits, it would have taken at least 20 days to withdraw and seize more than 1,000 coins from overseas Bitcoin exchanges, and during that time, some Bitcoins were embezzled, so not all could be recovered.

A police official said, "We suspect that A and her family used the 'private key,' the password that controls the Bitcoins, to embezzle more, and we are investigating."

A's pretrial detention hearing (warrant review) will be held on the 15th at the Gwangju District Court.

This content was produced with the assistance of AI translation services.