Vegas 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 lot of specific states make bank on gambling activities of their constituents; things such as for instance lotteries and casino fees. But the federal government seems to have found their money cow at a greater and slicker level today: skimming huge sums from indicted gambling companies in change 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 Sands Corp. headed by billionaire curmudgeon Sheldon Adelson has followed suit, agreeing to cover $47.4 million in punitive fines so that federal prosecutors do not slam the casino conglomerate with criminal costs for money laundering. Just the cost of doing business, this indicates.
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, according to the evidence, the company was recalcitrant in alerting authorities that are federal certainly one of its whales made numerous questionably large deposits at their Las Vegas casino The Venetian in 2006 and 2007. The high stakes gambler under consideration was later tied to a major worldwide drug trafficking ring.
The agreement ends a two-year investigation that is criminal the U.S. Attorney’s office in la, and that office has now decided to seek no further indictments as well….