Sands To Pay $47M To Settle Money Laundering Inquiry

Law360, Los Angeles (August 27, 2013, 9:24 PM EDT) -- Las Vegas Sands Corp. has agreed to pay more than $47 million to resolve a federal money laundering investigation after it failed to alert authorities that a high-stakes gambler made several suspicious deposits at one of its casinos, federal prosecutors said Tuesday.

Under the terms of a settlement agreement reached Monday night, federal officials will not prosecute Sands for failing to report the suspicious deposits made by Zhenli Ye Gon, a former customer of Sands' Venetian-Palazzo casino who has been accused of international drug trafficking. In return,...
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