concert profits, as well as the agency’s company funds. After obtaining data from a casino association in Nevada, the police are currently analyzing the number of times Yang Hyun Suk gambled, how much he gambled, and whether he won or lost in order to determine the source of his money.Īccording to Channel A, a source from the police explained that they will also be investigating possible links between Yang Hyun Suk’s gambling money and YG Entertainment artists’ U.S. Their former artists include Wheesung, Epik High, 1TYM, Gummy, Seven, Minzy, Park Bom, 2NE1, Nam Taehyun, Lee Jongsuk, PSY, B.I, ONE, CL, and Lee Hi.Following the reports of YG’s alleged habitual gambling in Las Vegas and Macau, it’s now being reported that police are investigating a connection between his gambling and the overseas concerts of YG Entertainment artists.Īccording to the report, police are tracing the source of Yang Hyun Suk’s gambling money and investigating whether he gambled using the proceeds from YG Entertainment artists’ overseas performances. The company also houses actors and actresses such as Kang Dong Won, Choi Ji Woo, Cha Seung Won, Lee Sung Kyung, and Yoo In Na. Their other subsidiary, YGX, houses Anda. In their subsidiary, The Black Label, they house soloist Jeon Somi. YG Entertainment currently houses Jinusean, BIG BANG, Dara, AKMU, WINNER, iKON, Sechs Kies, and BLACKPINK. They also have side labels that venture into different industries, such as clothing, golf management agency, and cosmetics. The company operates as a record label, talent agency, music production company, event management, concert production company, and a music publishing house. YG Entertainment was established in 1996 by Yang Hyun Suk. He resigned from his position of CEO back in June of 2019.
He was accused of being part of the "Burning Sun" scandal alongside accusations of covering up the drug use of artists under YG Entertainment. Yang Hyun Suk has been embroiled in more controversies in recent years.
#Yg concert in las vegas trial#
His first trial will be held on August 14. On July 21, 2020, Star News investigations revealed that Yang Hyun Suk, along with four other parties, were given orders from the court. However, it seems the charges were appealed against, as a trial has been opened immediately. Then, in May 2020, Yang Hyun Suk was booked with an informal prosecution that charged him with a sentence without a proper court trial. If they lose, they repay it back in Korean won. If they win, they return the money borrowed. Numerous Koreans who gamble overseas try to bypass the law by borrowing the currency of the country they are in rather than in Korean won. He would repeatedly borrow dollars in Las Vegas and gamble at high-stakes baccarat tables. The former CEO was found to be gambling in Las Vegas, United States, staying in the VIP room of the MGM Grand back in February 2018 to celebrate the conclusion of his survival show "MIXNINE" alongside PD Han Dong Chul another staff members who worked on the show. Accounts were set up in both South Korea and the United States, with the money deposited being South Korean won and what was withdrawn would be US Dollars. They found records of transactions totaling to over 1.3 billion KRW (roughly USD 1,074,066). In April of that year, police gained intel of Yang Hyun Suk's illegal overseas gambling, prompting the Financial Intelligence Unit (FIU) to launch an investigation in Yang Hyun Suk's accounts. Koreans are only allowed to gamble in one casino called Kangwon Land. Even if done overseas, Koreans can be charged 20 million Korean won or face three years of jail time for gambling. For those who don't know, gambling is illegal in South Korea. In August 2019, Yang Hyun Suk faced allegations of gambling overseas, leading to investigations. Yang Hyun Suk, founder and former CEO of YG Entertainment, is being taken to court.
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