South Korean money laundering in Mongolia comes to light
Local newspapers have reported that the Economic Crime Combat Division of the Criminal Police Department have brought down a South Korean mafia money laundering operation in Mongolia.
According to a confirmed source, evidence has been found proving the boss of one branch a South Korean mafia Gangpae, or street gang, Ahn Jae Man, was laundering money in Mongolia from extortion, loan sharking and gambling in South Korea.
Ahn Jae Man, the boss of an illegal gambling establishment was sentenced for gambling business and illegal large amounts of money in South Korea. But he transferred the money via the office of “Юилсот” (Youilsot) Company director Lee Jae Gun in order to disguise the money as an investment.
The company used the money to build a hotel named Richfield in Chingeltei District, Ulaanbaatar. The charged Ahn Jae Man was sentenced for illegally obtaining large sums of money reaching 4.5 million US dollars in South Korea.
Now law enforcement officers have collected evidence against the company in Mongolia, “Юилсот” (Youilsot), and Lee Jae Gun the Director, transferred to his boss`s account a large sum of money equal to 11 billion MNT.
Lee Jae Gun, the owner of Richfield hotel in Mongolia was investigated for forcing women into prostitution by Chingeltei District Police in 2011. However prosecutors remitted the case due to lack of evidence.
Now the State Investigation Department have confiscated the Richfield hotel in Ulaanbaatar Mongolia in connection with the money laundering case.
SOURCE OF THIS ARTICLE : News.mn
According to a confirmed source, evidence has been found proving the boss of one branch a South Korean mafia Gangpae, or street gang, Ahn Jae Man, was laundering money in Mongolia from extortion, loan sharking and gambling in South Korea.
Ahn Jae Man, the boss of an illegal gambling establishment was sentenced for gambling business and illegal large amounts of money in South Korea. But he transferred the money via the office of “Юилсот” (Youilsot) Company director Lee Jae Gun in order to disguise the money as an investment.
The company used the money to build a hotel named Richfield in Chingeltei District, Ulaanbaatar. The charged Ahn Jae Man was sentenced for illegally obtaining large sums of money reaching 4.5 million US dollars in South Korea.
Now law enforcement officers have collected evidence against the company in Mongolia, “Юилсот” (Youilsot), and Lee Jae Gun the Director, transferred to his boss`s account a large sum of money equal to 11 billion MNT.
Lee Jae Gun, the owner of Richfield hotel in Mongolia was investigated for forcing women into prostitution by Chingeltei District Police in 2011. However prosecutors remitted the case due to lack of evidence.
Now the State Investigation Department have confiscated the Richfield hotel in Ulaanbaatar Mongolia in connection with the money laundering case.
SOURCE OF THIS ARTICLE : News.mn
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