POLICE on the idyllic Korean island of Jeju believe they have found most of the cash stolen in a sting masterminded by an executive at a casino linked to a showpiece convention centre.
A Malaysian woman suspected of masterminding the theft of US$13.8 million in 50,000 Korean won notes over a period of two to three months is believed to have fled South Korea along with an accomplice.
Police have narrowed down their hunt to three suspects and say another could be still on Jeju or in mainland South Korea, but have not ruled out other accomplices being involved. The trio is believed to have carried out the theft from Jeju Shinwa World using boxes to carry the cash and evading or destroying security camera footage.
The Korea Times reported that about 12 billion won in new 50,000 denomination notes, thought to be the bulk of the 14.56 billion won cash haul, has so far been recovered. Police say 8.15 billion won had been stolen from the casino’s VIP room safe while another 4 billion won was found at the Malaysian executive’s accommodation.
Police say the woman is 55-years old, of Chinese descent and is believed to have fled the country with one of the accomplices, described as a Chinese national in his thirties.
The woman is reported to have taken the cash out of the VIP room’s safe in accordance with the casino’s security procedures.