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Wynn Resorts Probed on Money-Laundering Controls

Discussion in 'Casino Industry & Development' started by JB in MN, Nov 20, 2014.

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  1. JB in MN

    JB in MN Low-Roller

    Joined:
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    Location:
    minneapolis
    I saw this on wsj.com but have yet to see it on other sites:

    Wynn Resorts Probed on Money-Laundering Controls
    Clients, Safeguards Are Focus of Several U.S. Agencies

    The criminal probe comes as U.S. authorities step up their scrutiny of casinos’ efforts to prevent money laundering. Wynn is the third major Las Vegas casino company in recent years known to be investigated for possible violations of money-laundering laws.
    By KATE O’KEEFFE, RACHEL LOUISE ENSIGN and CHRISTOPHER M. MATTHEWS

    Federal authorities are investigating whether casino operator Wynn Resorts Ltd. violated money-laundering laws, according to people familiar with the matter.

    Prosecutors from the Manhattan and Las Vegas U.S. Attorney’s offices and investigators from the Internal Revenue Service and Drug Enforcement Administration are coordinating their efforts to look into the Las Vegas-based company, people familiar with the matter said.

    Link to the article is here, but only for members:

    http://on.wsj.com/1F585oF
     
  2. kps

    kps High-Roller

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    Saw the short version through Fortune magazine. It said Caesars was investigated a year or 2 ago for the same thing and 3rd property settled by paying a $40+million fine.
     
  3. REELmoneySlotFan

    REELmoneySlotFan High-Roller

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    Kinda curious what the outcome will be. I can imagine this is something that could be hard to track for casinos sometimes. People are very creative when they really need to launder some money.
     
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