Marina Bay Sands casino under US money laundering investigation

Friday, 07 Jun, 2020 0

Singapore’s Marina Bay Sands casino is reportedly now subject to a money laundering probe by US investigators.

The US justice department has cause to investigate if laws were broken over how it handles the accounts of high rollers.

A Grand Jury subpoenaed a former MBS compliance offer for documents which could show ‘money laundering facilitation.’

It seeks documents which could uncover violations relating to gambling junkets and third-party lending using casino credit.

The subpoena is also seeking information on at least one other former employee who handled fund transfers to high spending gamblers, according to people familiar with the matter.

The casino is currently subject to a multi-million dollar third-party lending lawsuit.

According to Bloomberg the subpoena is also probing any possible retaliation against whistle blowers.

Marina Bay Sands is one of the world’s most profitable integrated casino resorts generating about a third of operating income for parent Las Vegas Sands.

MBS is also facing an investigation by Singapore’s Casino Regulatory Authority into possible money transferring violations.

The regulator told Bloomberg it is ‘committed to ensuring that the casinos in Singapore, including Marina Bay Sands, remain free from criminal influence or exploitation.’

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Editor for TravelMole North America and Asia pacific regions. Ray is a highly experienced (15+ years) skilled journalist and editor predominantly in travel, hospitality and lifestyle working with a huge number of major market-leading brands. He has also cover in-depth news, interviews and features in general business, finance, tech and geopolitical issues for a select few major news outlets and publishers.

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