LVS To Investigate Money Laundering At Marina Bay Sands Casino Singapore

Las Vegas Sands will investigate money laundering cases at the Marina Bay Sands casino in Singapore.

Marina Bay Sands was also on the radar of the US Department of Justice (DOJ) and Singapore police, so the US company formed a committee to investigate.

Wang Xi, a Chinese gambler, sued Marina Bay Sands last year, alleging that the operator had transferred $6.8 million (£4.9 million) from his house account to others without his consent.

DOJ investigation

The matter of Wang Xi was decided out of court. The DOJ, on the other hand, agreed to look into the matter further, examining how the operator handled customer accounts. The Department of Justice is also investigating whether the casino broke money laundering laws and mistreated and silenced gamblers like Wang Xi.

A committee made up of three independent board members will now launch an ongoing inquiry. Vinson & Elkins LLP, a law firm based in the United States, will also support the board in the study.

Internal investigation

An internal investigation found that several staff had issued gamblers blank forms. They will make players sign blank consent papers, which they would then fill in with the sum to be exchanged. The number of third-party transactions has been limited, according to Marina Bay Sands, and the company’s security has been strengthened.

The organisation is now in a transitional period following the death of its chairman, Sheldon Adelson, in January. To focus on Asia, the firm plans to divest its Venetian resort in Las Vegas.