Billion Dollar Webcast Gambling Operation Busted In Korea

As big time illegal gambling operations go, the one that was busted by Korean authorities may become the biggest of all time. Billions of dollars were seized in the bust.

An illegal gambling operation that was run out of a casino in Manilla has been busted by authorities in Korea. The operation used real time webcamming to show the casino live.

The arrested were not identified, but someone that is only known as "Lee" is the alleged ringleader. He set up a casino in Manila, then he sent live feeds of the casino to people's computers through the use of nine different gambling websites.

People were able to cash in money for cyberchips. Once they cashed in, they could play at the casino through the webcams. The high tech operation is said to have brought in billions of dollars to the four men who were running the casino.

The men even went as far as to broadcast CNN live in the corner of the webcast gambling. That was to ensure their customers that the gambling was taking place live. The group had servers in several different nations.

Billions of dollars in assets were frozen by the Korean police. They are also looking for two of the accomplices that have fled the country. Proceedings have already began to extradite the two back to Korea.

September 28, 2008
Posted By Tom Jones
Staff Editor, CasinoGamblingWeb.com
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