Las Vegas Sands Singapore Casino Investigated For Money Laundering Controls
A big casino in Asia operated by Las Vegas Sands (NYSE: LVS) is drawing scrutiny from a powerful regulator. According to an article published on Thursday by Bloomberg, citing a copy of a subpoena it had access to, the subsidiary that owns the company's Marina Bay Sands is being investigated for lapses in its anti-money laundering controls.
In January, Marina Bay Sands Pte's former head of compliance was issued a subpoena by the U.S. Department of Justice (DOJ). It sought information on possible facilitation of money laundering, and breaching of internal financial controls through junkets and the provision of credit. Citing "people familiar with the matter," Bloomberg said that an investigation is likely in the early stages, at this point only probing for information.
Image source: Las Vegas Sands.
Source Fool.com
