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Las Vegas Sands Pays $47.4 Million to Feds to flee Criminal Charges
Nevada Sands Corp. is forking over $47.4 million towards the Feds to avoid indictments that are criminal 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 greater and slicker level these days: skimming huge sums from indicted gambling businesses in change for the culprits getting away with light or no sentencing.
Full Tilt boss Ray Bitar was an example that is notable of recently, and now Las vegas, nevada 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 conducting business, it appears.
A recently signed agreement between the U.S Department of Justice (DoJ) and Las vegas, nevada Sands states that, according to evidence, the business was recalcitrant in alerting federal authorities when certainly one of its whales made numerous questionably large deposits at their Las vegas, nevada casino The Venetian in 2006 and 2007. The high stakes gambler in question was later tied up to a major international 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 also. (more…)