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South Korean Police Make Huge Online Gambling Bust
Tuesday March 22,2016 : KOREAN POLICE IN MAJOR ONLINE GAMBLING BUST
Two arrested as US$4 million intrnet gambling enterprise is shuttered.
The South Korean National Police Agency revealed in a press statement Monday that two men alleged to be the operators of an illegal and as yet unnamed online gambling website have been arrested and the business shut down.
Police spokesmen claimed that over the eighteen months the financial betting site had been in operation it had accrued profits of 4.6 billion won (US$4 million) on turnover of around 14.5 billion won.
On the website, members bet on potential fluctuations in the Korea composite stock price index (Kospi) 200, forecasting how much the index might rise or fall.
The two men arrested were identified under the very common Korean names of Lee and Kim; the former handled customer relations and support, and the latter was the CEO and technical executive.
The police claim that Kim began operating in October 2014 from an apartment, quickly building the business into a successful enterprise that allowed him to improve his personal financial circumstances.
His downfall came when an employee sent email messages to some customers passing himself off as the cyber investigations bureau of the national police; alarmed punters contacted state authorities, which triggered a federal investigation.
Danske Spil Bingo Moves to Microgaming -
The national lottery of Denmark, Danske Spil, is live on the Microgaming Bingo Network. Danske Spil, the Danish national lottery, is live on the Microgaming Bingo Network following a change to its licence conditions.
Quickfire live on Strendus -
Quickfire powered by Microgaming is extending its reach in the LatAm region with the signing of Strendus. Strendus is the online division of Logrand Entertainment Group. The group comprises several companies that operate gaming and entertainment establishments in Mexico, running 14 land-based casinos in total.
Quickfire content live on BetatHome -
Online gaming and sports betting company bet-at-home was founded in 1999. Today the company has 4.8 million registered customers around the world, offering sports betting, casino, live casino, Vegas games, poker and virtual sports.
Microgaming has donated £30,000 between four charities -
Gift of Giving provides Microgamingís customers the opportunity to vote for one of several charities in their region. In lieu of Christmas gifts, £30,000 is split equally between four global regions: Isle of Man, UK and Europe, Africa, and Rest of the World.
Entertainment Betting Odds: 90th Academy Awards -
The Shape of Water leads Sundayís 90th Academy Awards (8 PM ET, ABC) with 13 Oscar nominations, but when it comes to Best Picture, this highly-acclaimed film is a +140 second-favorite behind Three Billboards Outside Ebbing, Missouri at Ė115.
Fair Play Bets and QuickFire in Deal -
Fair Play Bets enjoys an unrivalled reputation for an outstanding player experience, with secure deposits and withdrawals, surprising casino bonuses and committed customer support. Fair Play Bets is licensed in UK, Malta and Curacao.
Cavaliers Aim to Take Down Wizards on 2/22/18 -
The Cleveland Cavaliers have looked like a different team since making their moves at the trade deadline. The Washington Wizards are up next for the Cavaliers, who will be at home after the All-Star break.
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