Two Way Hard Three | Las Vegas Casino & Design Blog

March 1, 2011

Federales Investigate Las Vegas Sands

Posted by Hunter

Ok, so it's the US, not Mexico... I just really wanted to say 'Federales'. Anyway, here's the deal...

It seems the US Securities and Exchange Commission (SEC) and the US Department of Justice (DoJ) have decided to investigate Las Vegas Sands under the provisions of the Foreign Corrupt Practices Act. This investigation came to light in Sands 10-K, filed today.

It seems that allegations by Steve Jacobs, a former exec at Sands China Limited (LVS subsidiary) triggered this investigation. He alleges all sorts of shady and underhanded dealings, some supposedly instigated by the head Rascal operator himself, Mr. Sheldon G. Adelson.

No way to know if any of Jacob's allegations are true - he clearly has an axe to grind with the brain-trust at the MEGACENTER™. Still, would it surprise anyone to find out if this really was how business was conducted over there? Secret investigations of your enemies? Bribes? Kinda exactly how I imagine things might work when billions are on the line and your regulator is a semi-corrupt authoritarian state. But hey, what do I know...

Can't wait to see what happens... My bet is probably nothing. The SEC doesn't really have a great track record when it comes to busting real financial criminals.


Read archived comments (2 so far)
March 2, 2011 2:18 AM Posted by Derek Jansen

This is going to be an interesting one to follow. Financial crime is a difficult one to investigate - let's see how it goes.

March 2, 2011 5:06 AM Posted by detroit1051

Hah,ha,ha,hah. "head Rascal operator." Living in the epicenter of Rascals, I enjoyed the reference.
The investigation will take so long that the story will disappear, and I'd also be surprised if anything happens to LVS.