Japan: 3 arrested for alleged laundering of online gambling money
Those arrested are accused of laundering around JPY4.9bn (US$35m).
Japan.- The Osaka prefectural police have arrested three people for alleged involvement in money laundering related to funds from online casino gambling. Hatsuyo Kinoshita, Yukiko Han, and Yuya Santanda are suspected of laundering around JPY4.9bn (US$35m) sent to their accounts by around 10,000 people.
Some JPY2.9bn (US$20.71m) was paid out to gambling participants as winnings, while the remaining JPY2bn (US$14.29m) was allegedly taken as profit, with 1.5 to 2 per cent going to the three suspects. Bets were allegedly placed online via Yous Casino.
In completely unrelated news, Osaka IR KK, the entity that will develop an integrated resort (IR) with a casino on Yumeshima island, has reportedly waived its right to terminate the implementation agreement for the project.
Osaka IR KK is a joint venture between MGM Resorts International, Japan’s Orix Corp, and several other Japanese entities as smaller-scale investors. Under the terms of the agreement, the consortium had the option to withdraw without paying compensation if specific conditions such as the tax regime, investment requirements, land improvements and tourist numbers were not fulfilled.
The IR is expected to cost JPY1.27tn (US$ 8.9bn) and is anticipated to generate annual revenue of JPY520bn, of which about 80 per cent is expected to come from the casino. It will also include hotels, shopping areas, convention areas and facilities. Operations are slated to commence by autumn 2030.
