Las Vegas Sands discusses settlement with US Justice Department
Published on Oct 29, 2012 9:13 PM
(REUTERS) - Las Vegas Sands Corp and federal prosecutors have discussed a possible settlement of the US 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 US 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.
To continue reading, log in if you are a subscriber
If you are not a subscriber, you can get instant, unlimited access here