Yang Hyun Suk has been spotted illegally gambling in Las Vegas.
According to Dispatch, the former YG head is accused of making overseas trips where about 1.3 billion of unregistered foreign exchange transactions ('hwanchigi') have been detected.
Police apparently obtained intelligence from an informant in April and in response the Financial Intelligence Unit (FIU) requested an investigation into Yang's account. According to the FIU, they tracked Yang's account transactions and traced about 1.3 billion won worth of suspicious foreign transactions. Yang Hyun Suk allegedly set up bank accounts in South Korea and the U.S that he would use to deposit funds in won and withdraw in dollars.
Dispatch reportedly obtained various tips on Yang Hyun Suk's illegal gambling at the M Hotel in Las Vegas where he booked a VIP room. An anonymous tipster revealed, "he doesn't usually travel with Korean money, he'll just borrow funds there in American dollars and pay it back in Korean won."
The tipster also hinted that Yang used the "drug dealer" method of "hand dealings" to deliver the funds to the exchange dealer.
According to Dispatch, Yang Hyun Suk left for Las Vegas after filming of "Mix Nine" survival program ended in February last year. He was accompanied by producer Han Dong-chul and other production staff. A witness revealed to Dispatch "At the time, 'Mix Nine' contestants struggled and didn't even get a chance to debut but Yang Hyun Suk was at the casino VIP room at the M hotel at the time enjoying a game of baccarat."
A police official spoke to Dispatch in phone conversation and revealed, "we are currently analyzing the data received from the FIU. We are collecting evidence on the overseas expeditionary rules. We will speed up the investigation after we have secured data to prove the alleged crime."
The Seoul Metropolitan Police Agency plans to summon Yang Hyun Suk on charges of illegally gambling overseas after securing details of the suspicious money transactions.
Seungri accused of illegal 'hwanchigi' activities alongside Yang Hyun Suk
According to a new report by JTBC 'Newsroom', Seungri was also reportedly a VIP guest at the same hotel and casino on at least 4 occasions where he also gambled and lost about 1.3 billion won playing Baccarat.
In March, reports had surfaced that Seungri was illegally gambling overseas and that he had mentioned it in Jung Joon Young's controversial 'tokbang' chatroom but Seungri denied the allegations.
Police have reportedly secured records of Seungri and Yang Hyun Suk entering the casino and gambling multiple times and have launched a formal investigation into the allegations.
This article is originally published on Daily Naver.
