The Las Vegas Sands Corporation, owner of the Sands, Venetian and Palazzo casinos and hotels has agreed to pay back $47.4 million to the US Treasury in order to clear its name and reputation from a money laundering probe filed against the casino for failing to alert authorities of suspicious activity by one of its highest paying whales.
Apparently the Sands Casino accepted transfers and cashier's chequs from the notorious Zhenli Ye Gon, between 2005 and 2007. The problem is that the casino should have reported this activity as suspicious according to both federal law and the casino's own regulations.
Ye Gon was the casino's largest cash gambler the casino complex had ever had and now it also turnes out Ye Gon is awaiting extradition in Mexico because of drug-trafficking charges.
