Patch.com – Las Vegas got a $47 million wakeup call Monday night from the U.S. Attorney’s Office, and today local casinos got this message from the feds:
“What happens in Vegas no longer stays in Vegas,” said U.S. Attorney André Birotte Jr. “All companies, especially casinos, are now on notice that America’s anti-money laundering laws apply to all people and every corporation, even if that company risks losing its most profitable customer.”
The stern warning follows news that the Las Vegas Sands Corp., which operates the Venetian-Palazzo hotel complex in Las Vegas, has agreed to return $47,400,300 to conclude an investigation into the casino’s failure to alert authorities that a high-stakes gambler, who was later linked to international drug trafficking, made numerous large and suspicious deposits with the casino.
According to a news release from the U.S. Attorney’s Office, Central District of California, under an agreement signed by officials with Las Vegas Sands Monday night, the company will return the money to the United States within 10 days. In exchange, federal prosecutors have agreed not to prosecute the casino for failing to file Suspicious Activity Reports. Such reports are required under federal law when a customer is involved in transactions the casino believes are suspicious.
The Bank Secrecy Act requires casinos with annual revenue of at least $1 million to file the reports, which are then analyzed by government agencies to investigate possible violations of the law, according to the USAO news release.
In Riverside County, there are several casino operators, including Indian-owned operations.
According to Thom Mrozek, spokesman for the US. Attorney’s Office, Central District of California, none of these operators is exempt from today’s warning.
“Anti-money laundering laws and the various reporting requirements like SARs are dictated by federal law,” he said via email.
