Las Vegas Sands to pay $47.4M to settle fed probe

[Omaha Steve]

Source: AP-Excite

By ALEX VEIGA

LOS ANGELES (AP) - Casino operator Las Vegas Sands Corp. (LVS) has agreed to pay $47.4 million after failing to flag millions of dollars in money transfers made by a gambler linked to drug trafficking.

In return, the U.S. Attorney's Office in Los Angeles will not seek an indictment against the casino operator, prosecutors said Tuesday.

The deal, finalized late Monday, also brings the government's criminal investigation to a close, but requires Las Vegas Sands to boost its efforts to monitor suspicious financial transactions for the next two years.

In a statement Tuesday, Las Vegas Sands noted its cooperation with the probe was recognized by the government.

FULL story at link.


Read more: http://apnews.excite.com/article/20130828/DA8EKHS80.html

[leftyohiolib]

1. adelson spent 100 million trying to get romney elected to avoid a 47 million dollar

fine?

[OffWithTheirHeads]

2. what a country! Steal Billions spend a few million and nobody goes to jail.

[KansDem]

3. "...but requires Las Vegas Sands to boost its efforts..."

"...to monitor suspicious financial transactions for the next two years."

[font size="1"]Yeah, sure...whatever...[font size="2"]

[Ikonoklast]

6. I'm sure they'll get right on that.

[BeyondGeography]

4. And Sheldon gets a little crazier

[1Greensix]

5. What happened to justice

Why is it a teenage pot dealer (small businessman) goes to prison for thirty years for a "Mistake" and corporations only have to pay a tiny percentage of loot they took in as a fine? It seems that justice encourages big businesses to break the law, since the rich white guy who ordered the law to be broken is Never sent to prison.

[enlightenment]

7. In searching around to see what

the Nevada Gaming Control Board had to say regarding this and in the process discovered this bit of testimony from last month. It is very clear and easy to understand and fascinating.

I'm not sure how - exactly - it plays into this decision against the Sands Corp., but it's worth a read just for the insight into the very murky world of Macau gaming.

http://www.uscc.gov/sites/default/files/A.G.%20Burnett%20Testimony.pdf

[Blue_Tires]

8. Somewhere in another existence...

Lefty Rosenthal is thinking: "What a bunch of rank amateurs..."

[DallasNE]

9. Once Again No Jail Time

One of the very reasons we have so much corruption of this nature is because those responsible know that in the worst case they get slapped with a fine. That needs to change. No more too big to jail.