April 20, 2021

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Whether Marina Bay Sands was investigated for violating anti-money laundering procedures

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Reports indicate that Marina Bay Sands has become the subject of investigation by the US authorities and the Singapore police. (File photo)

Reports indicate that Marina Bay Sands has become the subject of investigation by the US authorities and the Singapore police.

Las Vegas Sands Corp. has set up a committee to investigate whether its Singapore casinos violated anti-money laundering procedures.

When Bloomberg reported the news, it also pointed out that the Singapore casino at Las Vegas Sands, Marina Bay Sands (Marina Bay Sands), has now become the subject of investigation by the US authorities and the Singapore police.

People familiar with the matter told Bloomberg that the committee set up by Las Vegas Sands consists of three independent directors. The committee will review the transfers between VIP gamblers and third parties at Marina Bay Sands, as well as any possible retaliation against whistleblowers. The American law firm Vinson & Elkins LLC has been hired to assist in this review.

Marina Bay Sands is the second most profitable business of the group. Earlier, Wang Xi (transliteration), a former client of Marina Bay Sands, complained that without his knowledge, Marina Bay Sands transferred S$9.1 million in his casino account to other gamblers. Wang Xi’s lawsuit was settled out of court in June last year, and the two parties did not recognize any obligations.

Bloomberg reported that a subpoena issued by the U.S. Department of Justice to the former chief compliance officer indicated that the U.S. Department of Justice is examining whether casinos violate anti-money laundering regulations when treating guests and retaliate against current and former employees who whistled.

The casino’s internal investigation revealed that the transfer that triggered Wang Xi’s lawsuit was not an isolated incident. Between 2010 and the end of 2018, casino employees made a total of S$1.64 billion in transfers between gamblers.

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