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Wednesday, October 23, 2019

U.S. announces $6.96 million penalty for Las Vegas Sands after alleged FCPA violations

By Mark Iandolo | Feb 9, 2017

LAS VEGAS (Legal Newsline) — The U.S. Department of Justice announced Jan. 19 that Las Vegas Sands Corp. (Sands), a Nevada-based gaming and resort company, will pay $6.96 million after allegations of violating the Foreign Corrupt Practices Act (FCPA) in connection with business transactions in the People’s Republic of China (PRC) and Macao.


Making the announcement for the department was acting assistant attorney general David Bitkower of the Justice Department’s Criminal Division, as well as special agent in charge Aaron C. Rouse of the FBI’s Las Vegas field office.


According to allegations, Sands executives did not have proper systems in place to ensure accounting compliance for its business consultants. A certain business consultant purportedly promoted the company in Macao and the People’s Republic of China but did not account for a portion of the funds Sands paid him. Sands spent around $5.8 million between 2006 and 2009 on the business consultant, without having any discernible business purpose listed for the funds.


The FBI’s Las Vegas field office looked into case, which was then handled by trial attorney David M. Fuhr of the Criminal Division’s fraud section. Also assisting in the issue were the SEC, the U.S. Attorney’s Office for the District of Nevada and the Criminal Division’s Office of International Affairs.

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U.S. Department of Justice