Oct 29 Las Vegas Sands Corp and federal
prosecutors have discussed a possible settlement of the U.S.
Justice Department's probe of the casino company's alleged
violations of money laundering laws, The Wall Street Journal
reported, citing people familiar with the case.
Federal prosecutors are investigating the casino company to
determine whether it had failed to report suspicious financial
transactions of two of its big customers to the U.S. government,
the Journal said late on Sunday.
The customers moved "millions of allegedly ill-gotten
dollars through the casino operator's accounts," the Journal
reported, citing court filings in two federal cases.
In July, lawyers for Las Vegas Sands tried to persuade
prosecutors to drop the case. Prosecutors, however, countered
that they could indict the casino operator on charges of
conspiracy to commit money laundering, the Journal said. ()
Federal prosecutors from the Los Angeles U.S. attorney's
office met company officials on Thursday, according to the
Journal. It said Las Vegas Sands could pay a fine and change the
way it handles customer money in order to avoid prosecution, the
The prosecutors and Las Vegas Sands are yet to reach an
agreement on the settlement, the daily said.
A spokesman for Sands said earlier in the year that the
company was innocent and was cooperating with the probe, the
Both Las Vegas Sands and the Los Angeles U.S. Attorney's
office were unavailable for comment.
Sands Chief Executive Officer Sheldon Adelson, whom the
Journal said had not been a subject of the investigation,
declined to comment to the newspaper.