Sands Casino To Pay Huge Money To End Probe
The Las Vegas Sands Corp will be returning a whopping 47.4 million dollars to US treasury so that they can end the case that focuses on the inability of the casino to alert the concerned officials regarding deposits that looked suspicious by a gambler.
Sands agreed accepting wire transfers and even cashier checks between 2005 and 2007 that looked to be suspicious from Zhenli Ye Gon but they remained mute and did not report the same to higher authorities.
Back in 2007, Ye Gon’s place in Mexico City was raided by law enforcement officers and they seized 207 million dollars making it the largest currency seizing in the states. It was also in the year 2007 that Ye Gon was the largest gambler that Venetian palazzo had during that time.
Hence, a probe was set up to find if the casino had an idea of these suspicious payments and they failed to report it intentionally. After a lot of intense research, the Sands Corp has been found guilty and so as a means to end the probe, they have agreed to pay this whopping amount to U.S treasury. This will serve to compensate for the loss that had been incurred.
The slot developers believe that this fine will definitely impact the casino; however, it was important that the probe ended or else it could culminate into further losses as well. The federal authorizes have set a befitting example for other casinos as it urges them to be upfront whenever they detect any suspicious payments of any kind.
BY CASINOWEBSCRIPTS PUBLISHED 29 August 2013