South Korean casino group Landing International Development Limited has announced that they’re missing $13.4 million in cash and that an employee reported to have taken the cash is missing.
The casino‘s management is looking for the employee, who was tasked with handling the funds. Police are also looking for the employee. The timing for the missing funds could not be worse for the casino company, as they posted a loss of $102.2 million in the first half of this year and a 25% drop in consolidated revenues due to the Covid-19 pandemic.
The company also had a scandal in December when executive Yang Zhihui was forced to resign from the board of China Dive Company Limited after there were allegations that he manipulated securities. Despite a lack of evidence, an investigation into Zhihui’s behavior was initiated by the China Securities Regulatory Commission.
We’ll be following this story and will update readers as we learn more.