{"id":4298,"date":"2017-01-23T00:00:00","date_gmt":"2017-01-23T00:00:00","guid":{"rendered":"https:\/\/www.mundovideo.com.co\/en\/america\/las-vegas-sands-pays-for-a-bribery-probe\/"},"modified":"2017-01-23T00:00:00","modified_gmt":"2017-01-23T00:00:00","slug":"las-vegas-sands-pays-for-a-bribery-probe","status":"publish","type":"america","link":"https:\/\/www.mundovideo.com.co\/en\/america\/las-vegas-sands-pays-for-a-bribery-probe\/","title":{"rendered":"Las Vegas Sands Pays for a bribery probe"},"content":{"rendered":"

Casino operator. On Thursday, the Department of Justice (DOJ) announced that Sands had agreed to pay $6.96m to resolve the investigation into Sands’ <\/span> violations of the FCPA ( Foreign Corrupt Practices Act<\/strong><\/a><\/span> <\/span>) in its business in China and Macau. The FCPA prohibits US companies from bribing foreign officials in order to win business concessions.<\/font><\/p>\n

The payment is in addition to the <\/span>$9m civil penalty<\/strong> <\/span>Sands paid 07 April of 2016 to resolve a similar probe by the US Securities Exchange Commission (SEC) that determined the casino operator had little documentation to explain why it paid $62m to an Asian consultant. (READ SO EE. UU STARTS 2017 WITH A BLOW TO ILEGALITY)<\/a><\/span><\/font><\/p>\n

The consultant reportedly acted as a ‘beard’ for Sands’ purchases of Chinese companies and property (including $6m for a basketball team that gambling companies were prohibited from owning) and which some Sands staff suspected were purchased “solely for political purposes.”<\/font><\/p>\n

The DOJ said its probe determined that Sands paid the consultant around $5.8m between 2006 and 2009 that even Sands admitted had been issued “without any discernable legitimate business purpose.”<\/font><\/p>\n

As part of a non-prosecution agreement, Sands also admitted that some of its executives “knowingly and willfully” failed to impose the necessary controls in its dealings with the consultant<\/font><\/p>\n","protected":false},"excerpt":{"rendered":"

On Thursday, the Department of Justice (DOJ) announced that Sands had agreed to pay $6.96m to resolve the investigation into Sands\u2019 violations of the FCPA<\/p>\n","protected":false},"author":1,"featured_media":4299,"menu_order":675,"comment_status":"open","ping_status":"open","template":"","format":"standard","meta":{"inline_featured_image":false,"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","footnotes":""},"categories":[],"tags":[1192,1436,1437,1438,1435],"class_list":["post-4298","america","type-america","status-publish","format-standard","has-post-thumbnail","tag-china","tag-department-justice","tag-fine","tag-macau","tag-sands-corp","entry"],"yoast_head":"\nLas Vegas Sands Pays for a bribery probe - Mundo Video Entertainment | Casino News in Latin America and the World<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.mundovideo.com.co\/en\/america\/las-vegas-sands-pays-for-a-bribery-probe\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Las Vegas Sands Pays for a bribery probe - 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