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U.S. Attorney won't bring criminal or civil case vs Sands
August 27, 2013 / 10:34 PM / 4 years ago

U.S. Attorney won't bring criminal or civil case vs Sands

LOS ANGELES (Reuters) - The U.S. Attorney’s Office in Los Angeles will not bring a criminal or civil case against Las Vegas Sands Corp (LVS.N) following a probe into its failure to file suspicious activity reports related to certain high-rolling gamblers, the office said in a press release on Tuesday.

Assistant U.S. Attorney Kevin S. Rosenberg said in a letter to Sands attorney Laurence Urgenson, dated August 26 and obtained by Reuters, that the federal government entered into a two-year agreement not to prosecute, based on the company’s cooperation.

Sands also agreed to return $47.4 million to the U.S. Treasury, which Rosenberg said represents funds the casino accepted from high-roller businessman Zhenli Ye Gon.

“The company cooperated fully and that effort was clearly recognized by the government,” said Ron Reese, spokesman for the Las Vegas Sands.

Reporting by Susan Zeidler; Editing by Gary Hill

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