Las Vegas Sands paying $7M to settle corrupt practices probe

AP News
Posted: Jan 20, 2017 1:21 AM
Las Vegas Sands paying $7M to settle corrupt practices probe

LAS VEGAS (AP) — U.S. authorities say billionaire Sheldon Adelson's casino company is paying almost $7 million to settle a foreign corrupt practices investigation of the firm's former relationship with a consultant in Macao and China.

Justice Department and FBI officials said Thursday the agreement with Las Vegas Sands Corp. resolves a probe into more than $60 million paid to an unnamed agent retained in 2006 for business dealings including efforts to acquire a Chinese basketball team.

The penalty is in addition to a $9 million civil payment the company made in April to settle a federal Securities and Exchange Commission investigation that found some payments to the consultant weren't properly authorized or documented.

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A Sands spokesman said Thursday the company is pleased that "all inquiries related to these issues have now been completely resolved."