Gang Arrested for Managing and Laundering Record-High 40 Trillion Won Gambling Funds... Commission Alone 400 Billion Won

A group of about 100 people who managed and laundered funds for illegal gambling sites and collected huge commissions were arrested en masse by the police.

The Busan Metropolitan Police Agency’s Violent Crime Investigation Unit reported on the 7th that they have booked 24 members of the group on charges of operating gambling sites and organizing criminal groups, and 77 individuals who sold forged bank accounts on charges of violating the Electronic Financial Transactions Act. Among them, three key figures?A (male in his 20s), the ringleader, and B and C (both males in their 20s), who held managerial positions?have been detained.

According to the police, the group is suspected of managing and laundering gambling funds for 64 gambling sites amounting to a total of 40 trillion won from July 2021 to November 2022, and collecting commissions totaling 400 billion won.

Illegal gambling site appearance. [Image source=Busan Police Agency]

The detained ringleader A and others operated in a cell-like structure to evade crackdowns, with 36 branches nationwide, each having account recruiters, gambling site liaisons, and branch managers. Each branch was equipped with facilities such as burner phones, forged bank accounts, and computers, and they moved their branch offices every one to two months.

They also changed the deposit accounts for the gambling sites several times a day to avoid detection by investigative agencies and financial authorities, communicated exclusively through Telegram accounts, and meticulously ensured that members memorized the “code of conduct” and “manual.”

After months of tracking, the police apprehended even those members who had fled and booked sellers who provided forged bank accounts under their own names to the group on charges of violating the Electronic Financial Transactions Act. Investigations into the gamblers themselves are ongoing.

So far, a decision has been made to confiscate 830 million won, and the police plan to continue tracking and seize all criminal proceeds hidden by the group.

A police official stated, “We plan to respond strictly to crimes involving the distribution of forged bank accounts and money laundering that harm ordinary citizens’ livelihoods,” and added, “Providing bank accounts to others can lead to criminal punishment, so please be cautious.”

Identification card and burner phone seized by the police. [Image source=Busan Police Agency]

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