An unknown pile of cash in a safe totaling KRW8.1 billion (US$7.4 million) was found during police investigation after the disappearance of KRW14.56 billion (US$13.4 million) in cash from Landing International Development Limited’s South Korean business.
According to Yonhap News Agency, assigned investigators from Jeju Provincial Police Agency found the money safely at Landing Casino within Jeju Shinhwa World. However, it is still undetermined whether the money is linked to the lost amount initially revealed by Landing last week.
On January 4, 2021, through a filing with the Hong Kong Stock Exchange, Landing had stated that the US$13.4 million had been confirmed to be missing, while the responsible employee, who was a female Malaysian executive of Landing, was not available.
Subsequently, police officers discovered a big pile of money at the residence of the employee in charge of monitoring funds. The executive herself has not yet been found.
Police, who are also searching whether or not there were accomplices involved in the robbery, stated: “We are tracking the whereabouts of the cash and the person in question by checking CCTV footage.”
Recently, Landing had declared a loss attributable to owners of the parent of HK$792.2 million (US$102.2 million) for the six months to June 30, 2020, on a 25% reduction of consolidated revenue to HK$262.1 million (US$33.8 million).