Gambling News by House of Odds

The Seoul Central District Prosecutors' Office is allegedly confirming the
circumstantial evidence surrounding whether a senior lawmaker of the ruling
Uri Party ran a company issuing gift certificates used for gambling arcades
by operating a partner company under a different name. Prosecutors allegedly
found evidence showing that the lawmaker co-operated Sammi Corp., an issuer
of gift certificates, and shared profits from the business. The lawmaker was
known for his significant contributions to Roh Moo-hyun's presidential
campaign in 2002. Prosecutors assume that the lawmaker was the company's
owner or deeply involved in the business, though certificate issuing was
operated under the name of Sammi Corp. and the partner company was
registered with a different name. The investigation is proceeding on the
basis that the company was disqualified for being designated as a
certificate issuer. This year in late January, Sammi Corp. failed to be
designated as an issuer, but applied again finally to be chosen on March 15.
The second selection process came last March 2 when Park Won-yang, chairman
of Sammi Construction Co. and majority shareholder, played golf with
then-Prime Minister Lee Hae-chan on March 1, Independence Movement Day.
Seoul Guarantee Insurance created controversy in its issuer-selection
process as it owned 30,493 shares or 0.42% of the firm. Prosecutors are
investigating whether the lawmaker requested or pressured Seoul Guarantee
Insurance, the Ministry of Culture and Tourism and the Korea Game
Development & Promotion Institute to get approval. However, prosecutors
claim that it is not illegal for the policymaker to issue and distribute
certificates and make profits from the fake company. The office is expected
to investigate into the background of his involvement in the business.
Meanwhile, the chairman of Sammi Corp. was fined 30 million won for illegal
political funds to Mr. Roh's camp of the Millennium Democratic Party (MDP)
in the 2002 presidential campaign.