Nevada Sands Pays $47.4 Million to Feds to Escape Criminal Charges
Las vegas, nevada Sands Corp. is forking over $47.4 million to your Feds to avoid criminal indictments for cash laundering
A great deal of specific states make bank on gambling activities of their constituents; things such as lotteries and casino fees. But the federal government seems to have discovered their money cow at a much higher and slicker level these days: skimming huge sums from indicted gambling organizations in trade for the culprits getting away with light or no sentencing.
Full Tilt boss Ray Bitar was a notable instance of this recently, and now Las vegas, nevada Sands Corp. headed by billionaire curmudgeon Sheldon Adelson has followed suit, agreeing to pay for $47.4 million in punitive fines so that federal prosecutors do not slam the casino conglomerate with criminal charges for cash laundering. Just the cost of doing business, it seems.
DoJ and Sands Come to Terms
A recently signed contract between the U.S Department of Justice (DoJ) and Las vegas, nevada Sands states that, predicated on the data, the company was recalcitrant in alerting authorities that are federal one of its whales made numerous questionably large deposits at their vegas casino The Venetian in 2006 and 2007. The high stakes gambler under consideration was later tied 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 l . a ., and that office has now consented to seek no further indictments as well. Read More