Sands Probed in Money Moves
WALL STREET JOURNAL: Federal authorities are investigating whether Las Vegas Sands Corp. LVS +4.99%and several of its executives violated money-laundering laws by failing to alert authorities to millions of dollars transferred to its casinos by two Las Vegas high rollers, according to lawyers and others involved in the matter.
The U.S. attorney’s office in Los Angeles is examining the casino company’s handling of money received several years ago from a Mexican businessman later accused of drug trafficking and a former California executive subsequently convicted of taking illegal kickbacks, according to the people involved.
The probe comes as the casino giant, controlled by billionaire Sheldon Adelson, faces possible legal trouble on another front. U.S. authorities are also investigating whether Sands violated U.S. antibribery laws in its operations in the Chinese territory of Macau… (more)