According to a report released on January 29 by Star News, police have secured statements related to allegations that Shin repeatedly gambled in Las Vegas over several years. The report claims that the funds used included 2 billion KRW (approximately USD 15 million) in advance payments originally intended for concert performances.

Star News stated that in June last year, Chairman Cha, who currently serves as the head of Shin’s agency, exchanged KakaoTalk messages with company affiliates discussing the matter. The messages allegedly included photos of an Excel file listing Shin’s English name alongside U.S. dollar amounts, with Chairman Cha stating that he had personally repaid the debts.

The reported records show transactions totaling USD 3.82 million (approximately 5.4 billion KRW) between August 2023 and January 2025. The documents allegedly reference two Las Vegas hotel casinos and include “ML” numbers, an abbreviation for Marker Loans, a form of short-term credit extended to VIP casino customers. Electronic airline ticket records reportedly submitted by company officials indicate that Shin and Chairman Cha traveled to Los Angeles and Las Vegas around the same periods the casino loans were issued.

The report further claimed that Chairman Cha became aware that all of Shin’s outstanding debts were gambling-related while acquiring shares in the entertainment agency. It was alleged that Shin diverted the 2 billion KRW in performance advances to fund gambling activities, leaving Chairman Cha with no choice but to settle the debts.

In response, Shin denied the allegations in a statement to TV Chosun, saying that while he had traveled to Las Vegas for work-related purposes, he never engaged in gambling. He also asserted that the casino loan records presented as evidence were entirely fabricated. As of now, no official conclusion has been announced, and the allegations remain under investigation.

Sources: Naver