Sands Corporation of Las Vegas to Counter Allegations Regarding Money Laundering Incident

The Las Vegas Sands Corporation, operator of the Venetian and Palazzo hotels, has agreed to pay $47.4 million to the US Treasury to settle allegations of failing to report suspicious activity at its Las Vegas casino. The probe was filed against the casino for its failure to alert authorities of suspicious transactions, a violation of both federal law and the casino's own regulations. The casino in question, a popular Las Vegas activity, accepted transfers and cashier's checks from a notorious individual, Zhenli Ye Gon, between 2005 and 2007. Zhenli Ye Gon, awaiting extradition in Mexico due to drug-trafficking charges, was the largest cash gambler at the Sands Las Vegas casino complex during that period. The payment, intended to clear the casino's name and reputation from the money laundering probe, comes after the casino failed to report suspicious activity by one of its highest paying Las Vegas whales. According to reports, the person responsible for the oversight is named Joe Sensi, who served as the chief operating officer of the Sands Las Vegas casino at the time. Sensi has since left the company. The Sands Las Vegas casino, a popular Las Vegas activity, has admitted to the lapse in its anti-money laundering procedures. The casino's failure to report such activities could potentially be used to facilitate criminal activities, making it crucial for casinos to maintain vigilance in these matters. This settlement is a significant step towards ensuring that casinos comply with anti-money laundering regulations and uphold their responsibilities in preventing such activities. The Las Vegas Sands Corporation has emphasised its commitment to strengthening its anti-money laundering measures moving forward.

Sands Corporation of Las Vegas to Counter Allegations Regarding Money Laundering Incident