Officials at South Korean casino operator Landing International revealed that a company employee recently went missing along with $13.4 million in company cash. It’s an extraordinarily embarrassing admission for the company and will almost certainly have an impact on the operation’s daily business and uncertain future. And to make things even worse, this is isn’t the first this has happened at Landing International.
News of the possible embezzlement case broke after company officials reported it to the Hong Kong stock exchange. In a statement that sought to minimize the overall shock of the incident, the casino operator meekly admitted that the employee responsible for handling the giant wad of cash was missing. Or, as they succinctly put it they are, ““unable to reach the employee-in-charge of the funds.” Though details are vague, it’s presumed that employee is unreachable because he or she is on the run with a duffle bag or two of cold, hard cash.
The report also helpfully adds that, “The Company has immediately reported the incident to the police in South Korea and they are currently investigating the incident.”
It’s very possible that officials at the company best known for its Jeju Shinhwa World resort casino on the tourist island of Jeju already had the police on speed dial since a very similar case occurred back in 2018 when Landing chairman Yang Zhihui disappeared (without company cash) and reappeared in Cambodia claiming to have been working on an anti-corruption scheme with the Chinese government.
So far there’s been no specific details published on the missing employee, though South Korean officials are believed to be sending an agent to Landing International to help reduce the amount of high-stakes drama the company produces.