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South Korean authorities move to dismantle alleged KRW3.1 trillion betting network
By SectorWire desk ·
Summary
South Korean authorities stepped up efforts to dismantle an alleged illegal betting network after three suspects were arrested in the UAE. Police put the scheme’s value at approximately KRW3.1 trillion ($2.3 billion); two suspects were returned to South Korea, while officials seek the suspected ringleader’s extradition.
Why it matters
The arrests and repatriations could affect efforts to dismantle the alleged network across several markets.