South Korea Busts Massive Gambling Operation
Massive gambling bust as millions of dollars are seized by South Korean authorities in Manilla casino.
The South Korean authorities have hit pay-dirt and they didn’t even have to gamble. A massive gambling syndicate run by four men, South Korean citizens, operating out of a casino in Manilla, the Philippines has been shut down. The operation netted the owners some $100 million in just 18 months. The casino employed 30 Filipino dealers and broadcast via webcam their baccarat games.
The gambling operation - a webcast effort - used webcamming in real time to display the casino to its gamers. The prize for the authorities: one hundred million dollars. Sources in the know claim this to be the single-largest bust in the history of gambling. Only one legal casino is open to South Koreans, with the industry being heavily policed.
The casino operation
The illegal operation was set up by a mastermind named Lee. According to news reports coming from the investigation, Lee sent live video feeds of the gambling operations to gamblers. They used nine online gambling portals.
Gamblers enjoyed real-time gambling activity by depositing cash and buying cyberchips. Their gambling activity was facilitated through the use of Internet cameras. In total over $100 million accrued to the owners of the casino operation. The owners provided transparency to gamblers by showing a live CNN feed in the corner of their gambling site. Gamblers thus knew it was real-time betting taking place. Gamblers were connected through multiple servers across the globe - an ingenious albeit illegal enterprise. After the bust, two Korean operators were extradited, and authorities are searching for the remaining two who have since disappeared.
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