Thursday August 7,2014 : SOUTH KOREAN POLICE BUST ONLINE POKER RING
29 arrested in raid on an internet ‘badugi' business that generated $390 million in wagers.
The Korean police have announced the dismantling of an illegal online poker ring operated by five gangs in the Gyeonggi Province, with the arrest of 29 individuals.
Speaking after a series of coordinated raids Wednesday, the police revealed that the ring had generated wagers of around 400 billion won ($390 million) on the game of Badugi – a poker variant.
Warrants for the arrest of three senior gang members including an alleged ringleader surnamed Yang have been obtained, the police revealed, claiming that the de facto owner is a former gangster who resides in China.
The site’s main server was based in China and charged entry fees as well as service fees for the exchange of currency using bank accounts under borrowed names.