{"id":161412,"date":"2021-01-15T08:19:16","date_gmt":"2021-01-15T16:19:16","guid":{"rendered":"https:\/\/www.casino.org\/news\/?p=161412"},"modified":"2021-01-15T12:08:47","modified_gmt":"2021-01-15T20:08:47","slug":"jeju-shinhwa-world-robbery-bulk-of-13-million-recovered","status":"publish","type":"post","link":"https:\/\/www.casino.org\/news\/jeju-shinhwa-world-robbery-bulk-of-13-million-recovered\/","title":{"rendered":"Jeju Shinhwa World Robbery: Bulk of $13 Million Recovered, Perps Still on Lam"},"content":{"rendered":"

Authorities in South Korea say they believe they have uncovered most of the money that went missing<\/a> last week from a safe at Landing International\u2019s Jeju Shinhwa World on the tourist island of Jeju.<\/p>\n

\"Jeju
The Landing Casino at Jeju Shinhwa World, seen here, from where the money was lost and the bulk found this week. (Landing International)<\/figcaption><\/figure>\n

On Thursday, police said they had found almost 8 billion won (US $7 million), presumed to be part of the missing 14.56 billion won ($13.3 million), in a hidden safe in the casino\u2019s VIP room, presumably where it was waiting to be laundered.<\/p>\n

A further US$3.6 million was uncovered from the house in which the main suspect, a 55-year-old female Malaysian casino executive, had been staying.<\/strong><\/p>\n

\n

The unnamed woman was one of just a handful of executives who had keys to the safe from which the money went missing. She left for a vacation before Christmas and has since disappeared. She is currently the subject of a police manhunt.<\/p>\n<\/div>\n

Police said this week they believed the woman and one of two suspected accomplices, an unidentified Chinese national in his 30s, are abroad, while another accomplice is still believed to be in South Korea.<\/p>\n

Share Plunge<\/strong><\/h2>\n

The incident came to light on January 4, when Landing International disclosed the theft on its website. The disclosure caused shares in the company to plunge 7.6 percent on the Hong Kong Stock Exchange. They have since slightly rallied.<\/p>\n

The case initially mystified police because such a large amount of Korean banknotes — 291,200 50,000-won bills in all \u2013 would be extremely difficult to carry and conceal.<\/p>\n

Investigators found that the casino security footage taken on the day of the heist had been wiped. \u00a0<\/strong><\/p>\n

According to South Korean news agency Yonhap<\/em>, the stolen money would fill around 12 apple boxes and weigh more than 617 lbs.<\/p>\n

This led police to believe the woman had accomplices, and that the money was still on the island. In fact, the bulk of the money never left the casino at all.<\/p>\n

Landing in Trouble Again?<\/strong><\/h2>\n

It\u2019s been a tough few weeks for Landing International, following reports in December that its chairman and founder, Yang Zhihui, had been placed under investigation by Chinese securities regulators, allegedly on suspicion of stock market manipulation.<\/p>\n

This is not the first time that Yang has fallen afoul of Chinese authorities. In August 2018, the Landing board was forced to report that its chairman had simply gone missing,<\/a> and that it had no idea of his whereabouts.<\/strong><\/p>\n

\n

Yang resurfaced in November 2018 after three and a half months off the radar. In a note to investors, Landing explained he had been \u201cassisting the relevant department of the People\u2019s Republic of China with its investigation during the period of his absence.\u201d The nature of the investigation is unknown.<\/p>\n<\/div>\n

It\u2019s not unheard of, or even uncommon, for Chinese businessman to suddenly disappear and eventually resurface. The country\u2019s most famous tech billionaire, Alibaba founder Jack Ma, is currently incommunicado, having recently publicly criticized the Chinese financial system.<\/p>\n","protected":false},"excerpt":{"rendered":"

Authorities in South Korea say they believe they have uncovered most of the money that went missing last week from a safe at Landing International\u2019s Jeju Shinhwa World on the tourist island of Jeju. On Thursday, police said they had found almost 8 billion won (US $7 million), presumed to be part of the missing […]<\/p>\n","protected":false},"author":36,"featured_media":161413,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[18],"tags":[],"acf":[],"yoast_head":"\nJeju Shinhwa World Robbery: Bulk of $13 Million Recovered<\/title>\n<meta name=\"description\" content=\"Jeju Shinhwa World Robbery partially solved as bulk of money discovered in casino VIP room safe, but suspects are still on the run\" \/>\n<meta name=\"robots\" content=\"noindex, follow\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Jeju Shinhwa World Robbery: Bulk of $13 Million Recovered\" \/>\n<meta property=\"og:description\" content=\"Jeju Shinhwa World Robbery partially solved as bulk of money discovered in casino VIP room safe, but suspects are still on the run\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.casino.org\/news\/jeju-shinhwa-world-robbery-bulk-of-13-million-recovered\/\" \/>\n<meta property=\"og:site_name\" content=\"Casino.org\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/Casino.OrgNews\" \/>\n<meta property=\"article:published_time\" content=\"2021-01-15T16:19:16+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2021-01-15T20:08:47+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2021\/01\/Landing.jpeg\" \/>\n\t<meta property=\"og:image:width\" content=\"1950\" \/>\n\t<meta property=\"og:image:height\" content=\"1300\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Philip Conneller\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@casinoorgphilc\" \/>\n<meta name=\"twitter:site\" content=\"@Casino_Org\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Philip Conneller\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.casino.org\/news\/jeju-shinhwa-world-robbery-bulk-of-13-million-recovered\/\",\"url\":\"https:\/\/www.casino.org\/news\/jeju-shinhwa-world-robbery-bulk-of-13-million-recovered\/\",\"name\":\"Jeju Shinhwa World Robbery: Bulk of $13 Million Recovered\",\"isPartOf\":{\"@id\":\"https:\/\/www.casino.org\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.casino.org\/news\/jeju-shinhwa-world-robbery-bulk-of-13-million-recovered\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.casino.org\/news\/jeju-shinhwa-world-robbery-bulk-of-13-million-recovered\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2021\/01\/Landing.jpeg\",\"datePublished\":\"2021-01-15T16:19:16+00:00\",\"dateModified\":\"2021-01-15T20:08:47+00:00\",\"author\":{\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/58769b72851c8cf117fb58ca150ebf8b\"},\"description\":\"Jeju Shinhwa World Robbery partially solved as bulk of money discovered in casino VIP room safe, but suspects are still on the run\",\"breadcrumb\":{\"@id\":\"https:\/\/www.casino.org\/news\/jeju-shinhwa-world-robbery-bulk-of-13-million-recovered\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.casino.org\/news\/jeju-shinhwa-world-robbery-bulk-of-13-million-recovered\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.casino.org\/news\/jeju-shinhwa-world-robbery-bulk-of-13-million-recovered\/#primaryimage\",\"url\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2021\/01\/Landing.jpeg\",\"contentUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2021\/01\/Landing.jpeg\",\"width\":1950,\"height\":1300,\"caption\":\"The Landing Casino at Jeju Shinhwa World, from where the money was lost and the bulk found this week. 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