Osaka police arrest three men for laundering money for offshore operator
Date: 2024-09-16 Author: Leon Pierce Categories: EVENTS
Osaka police have arrested three men suspected of involvement in a large-scale money laundering operation linked to an illegal gambling business. Authorities believe the men helped illegal companies launder tens of millions of dollars.
The men were found to have ties to an offshore gambling operator.
The men arrested include Hatsuyo Kinoshita, 40, Yukiko Han, 41, and Yuya Santander, 40. All three ran companies based in Osaka Prefecture that worked with an offshore online casino called Yous Casino.
The police say the men were involved in laundering about $35 million. These funds were transferred to their accounts from approximately 10,000 people who were also associated with Yous Casino.
The money was transferred to the suspects' accounts in more than 140,000 transactions between March 2022 and June 2023. The payments were disguised as legitimate business income, which allowed them to avoid the attention of authorities.
About $20 million of the laundered funds were returned to customers as winnings. The remaining money remained at the disposal of the offshore operator as profit. The suspects received between 1.5% and 2% of the total profit.
Casinos in Japan: A Step Toward New Opportunities
It is worth noting that online gaming is prohibited in Japan. The country has always tried to restrict gambling, despite the popularity of pachinko slot machines, which are not legally considered gambling. Toy machines and gacha games based on luck are also popular among the population.
However, Japan has recently softened its stance on traditional casinos and plans to open the country’s first integrated casino resort. The project, which has been delayed for several years, is scheduled to be completed by 2030. The resort will be located on Yumeshima Island in Osaka and is being developed jointly by MGM Resorts and Orix Corporation.
The initial cost of building the complex has increased significantly due to various difficulties and is now over $9 billion. Despite the high costs, MGM is confident of the project’s success.
The opening of the resort is expected to have a positive impact on tourism in the region and will benefit both its owners and the local economy. In addition to gambling, the resort will house three hotels with 2,500 rooms, convention centers, shops and restaurants.
