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Sheldon Adelson’s Casino Reaching Deal with Feds on Money-Laundering


Federal prosecutors and pro-Israel Republican stalwart Sheldon Adelson’s casino company Las Vegas Sands Corp. may have come to an understanding on issues pertaining to money-laundering laws allegedly violated in the cases of two criminal high-rollers, the Wall Street Journal reports.

Lawyers for the Sands and federal prosecutors met on Thursday after the Sands failed to obtain a dismissal.  Prosecutors threatened to charge the Sands and a company executive with conspiracy to commit money laundering.

Now, the prosecution may indeed drop the case, with the Sands paying a fine and updating regulations on handling customer money.

Sands representatives stated that the casino was cooperating with federal investigations and denied any wrongdoing.

Las Vegas Sands was investigated when it allegedly failed to report a potentially suspicious financial transaction by two wealthy gamblers to the federal government.  The two apparently worked millions of dollars in “dirty” money through the accounts of the casino operator.  The cases hinge on whether it was possible for executives of the Sands to know that the money could have come from illegal activities, and whether they should have had reasonable enough suspicion to alert law enforcement.

One, Zhenli Ye Gon, a Chinese citizen with a Mexican pharmaceutical factory, was charged in 2007 with manufacturing a component of methamphetamine, during which time evidence showed he had spent over $100 million at Las Vegas casinos.  Charges against him were later dropped by federal prosecutors.  But the case raised concerns over whether the Sands failed to report deposits made by a suspicious person.

For their part, the Sands said it performed due diligence measures to ensure the cleanliness of the money, even hiring a private investigator to determine whether Ye Gon was legitimate.

The second case, of former Fry’s Electronics executive and admitted 2009 kickback schemer Ausaf Umar Siddiqui, who made major transactions at the Sands despite an apparent history of being unable to pay gambling debts.

The Sands is also being investigated regarding alleged bribes paid overseas.  The company has maintained its innocence.

Adelson, owner of the Sands, is also the owner of the Israel HaYom newspaper, has contributed over $100 million to the Birthright Israel project to connect Jewish youth to their roots through his family foundation, and is married to an Israeli physician, Miriam Ochsorn.

About the Author: Malkah Fleisher is a graduate of Cardozo Law School in New York City. She is an editor/staff writer at JewishPress.com and co-hosts a weekly Israeli FM radio show. Malkah lives with her husband and two children on the Mount of Olives in Jerusalem.


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10 Responses to “Sheldon Adelson’s Casino Reaching Deal with Feds on Money-Laundering”

  1. The wife has bad hair just like DOnald Trump, proves that money cannot fix a bad hairday.

  2. Michael Curry says:

    It seems Sheldon is never accredited for all the jobs he has created in Las Vegas and around the world. Allot of people go home at night to their families while people like Sheldon are fighting for their lives. Sheldon by all means has plenty of wealth and could just call it a day and sit on a yacht for the rest of his life. G_d bless Sheldon for all he has done and yet to accomplish.

  3. Mark L. Shane says:

    and if sheldon were a democrat there would never have been any investigation.

  4. Charlie Hall says:

    I don't give credit for jobs created when it is asur for a Jew to be in that business in the first place. Had he stuck to trade shows I'd have a different take, but casinos are a plague!

  5. Edward Lobel says:

    NOT TRUE. A bad person is a bad person even if he is a democrat. It just sems that there ae a lot more bad people now who are repubs and tea baggers.

    Shelly has actually done some personal favors for me, but that doesn't mean he did not do wrong!

    Unlike you boy willard, shelly is very charitable and donates to many causes not just Jewish causes and for that I give him a lot of credit!
    willard on the other hand gives 99.9% of his charity to the mormon church (check his one published tax return) When the stories get out about how he helps children who are ill, if you look at past the the initial story of willard helping, you see that these children are all mormon! willard only helps his own kind. Maybe nothing wrong with that but when you brag about all the charity you give and mislead the public, you are further ienhancing your role of chief LIAR.

    willard has possibly committed two felonys. When willard says he has paid all the taxes do on his income taxes, they maybe true niw, but perhaps was not true in 2008. He may have paid back all the money he owed when he was caught not declaring off shore income (that is against the law) and accepted amnesty if he would pay back the money he owed, This would be reflective in his 2008 and/or 2009 tax returns both of which he will not release.

    He is currently being investigated for purgery in the stemberg (staples) divorce case for lying under oath by vastly understating the value of staples stock so stenberg's wife would get a lot less in settlement. While the judge just did lift the testemony gag order, he has not released the gag order on the former mrs. stemberg so she could tell her side of the story.

  6. Squir Sheldon has truly done a great deal of good to mankind.

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