Nevada Sands Pays $47.4 Million to Feds to Escape Criminal Charges
Las Vegas Sands Corp. is forking over $47.4 million to your Feds to avoid indictments that are criminal money laundering
A lot of specific states make bank on gambling activities of their constituents; things such as for example lotteries and casino fees. But the government that is federal to have discovered their money cow at a higher and slicker level today: skimming huge sums from indicted gambling companies in exchange for the culprits getting away with light or no sentencing.
Full Tilt boss Ray Bitar was an example that is notable of recently, and now Las vegas, nevada Sands Corp. headed by billionaire curmudgeon Sheldon Adelson has followed suit, agreeing to pay $47.4 million in punitive fines so that federal prosecutors do not slam the casino conglomerate with criminal fees for money laundering. Just the price of working, it seems.
DoJ and Sands Come to Terms
A recently signed agreement between the U.S Department of Justice (DoJ) and Las vegas, nevada Sands states that, based on the evidence, the company was recalcitrant in alerting federal authorities whenever one of its whales made numerous questionably large deposits at their nevada casino The Venetian in 2006 and 2007. The high stakes gambler under consideration was later on tied up to a major drug trafficking ring that is international.
The agreement ends a two-year investigation that is criminal the U.S. Attorney’s office in Los Angeles, and that office has now consented to seek no further indictments aswell. (suite…)