Las vegas, nevada Sands Pays $47.4 Million to Feds to flee Criminal Charges

Las vegas, nevada Sands Pays $47.4 Million to Feds to flee Criminal Charges

Las vegas, nevada Sands Corp. is forking over $47.4 million to your Feds to avoid criminal indictments for money laundering

A great deal of individual states make bank on gambling activities of their constituents; things such as lotteries and casino taxes. But the federal government seems to have found their cash cow at a higher and slicker level today: skimming huge sums from indicted gambling organizations in exchange for the culprits getting away with light or no sentencing.

Full Tilt boss Ray Bitar was a notable example 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 don’t slam the casino conglomerate with criminal fees for cash 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, centered on 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 on tied to a major international drug trafficking ring.

The agreement ends a two-year unlawful investigation by the U.S. Attorney’s office in Los Angeles, and that office has agreed to seek no further indictments too. Continue reading “Las vegas, nevada Sands Pays $47.4 Million to Feds to flee Criminal Charges”