Police are hunting down a female casino executive who is suspected to have ran away with 14 billion won, or equivalent to $13 million in cash, from a casino coffer in South Korea.
The alleged robbery happened in Jeju Shinhwa World under the operation of Landing International Development Ltd. Based in Hong Kong.
Landing International Development Ltd. confirmed in an official statement published on its website that the employee handling the casino funds is out of their reach.
“The board of directors of the Company wishes to inform the shareholders and potential investors of the Company that on 4 January 2021, the management of the Group discovered that certain funds amounting to approximately 14.56 billion won … kept in Jeju, South Korea, was missing,” the group stated.
“Currently, the management of the Group is unable to reach the employee in charge of the funds. The company has immediately reported the incident to the police in South Korea and they are currently investigating the incident,” it furthered.
The company’s share in Hong Kong took a dive 7.6 percent to a record on Monday. It rebounded by 6.4 percent on the following day.
Authorities have already acted upon the matter, as the Jeju Provincial Police Agency assured that they have launched an investigation through its anti-corruption team. The police, however, did not furthered on the details.
According to a report at Yonhap News Agency, the employee handing the funds of the casino is a Malaysian national. After leaving for a vacation last December 2020, the said employee did not return to work.
The news agency added that the missing funds will probably be too heavy and cumbersome for one to snatch. The cash weighs around 280 kilograms or 617 pounds. It would be impossible for one person to carry and transport the money, especially from Jeju, which is located off the southern shoreline of South Korea.
According to Yonhap, the police claim that the security footage from the suspected time of robbery had been wiped out. Authorities are looking into two culprits to be behind the robbery.
Meanwhile, another police officer, as gathered by The Korea Times, suspected that the bulk of cash might have been robbed over a period of around seven or eight months.
Jeju Shinwa World, a giant casino resort destination, was opened to foreigners-only in 2018, as Korean locals are banned from gambling.
The resort destination has many theme parks, a waterpark, hotels, and a K-Pop themed entertainment facility.
The Jeju casino robbery has added to the list of casino theft cases. For one, a cashier named Bill Brennat, employed at the Stardust sportsbook in Las Vegas, left his shift with $500, 000 cash in his bag. Happened last September 1992, the amount of cash Brennat robbed is not worth $1 million. The employee never left traces and was never seen again.