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Enforcement Action Dataset

 

Initiation Date:    01/19/2017  Information

Prosecuting Agency:    U.S. Department of Justice

Type of Action:    DOJ Criminal Proceeding

Docket or Case Number:    N/A

Court:    N/A

Name of Prosecuting Attorneys:   

  • David M. Fuhr, Trial Attorney, Fraud Section, Criminal Division

US Assisting Agencies:   

  • U.S. Securities and Exchange Commission
  • Federal Bureau of Investigation
  • Department of Justice - Criminal Division's Office of International Affairs
  • U.S. Attorney's Office - Nevada

Foreign Enforcement Action/Investigation:    Unknown

Foreign Assistance:    Unknown

Origin of the Proceeding:    Unknown

Whistleblower:    Unknown

Case Status:    Resolved


Summary  Information

Las Vegas Sands Corporation (LVSC) was a Nevada-based casino and resort company which operated through a network of subsidiaries, casinos, and gaming facilities in the United States, Macao, and Singapore. During the period of the alleged misconduct, LVSC's shares were publicly traded on the New York Stock Exchange, and the company therefore was an "issuer" within the meaning of the FCPA.

From 2006 through 2009, LVSC, through wholly foreign-owned enterprises based in China that were owned and incorporated by LVSC, transferred approximately $60 million to a Chinese consultant for the purpose of promoting LVSC's business and brands. Approximately $5.8 million was paid to the consultant without any discernable legitimate business purpose. The consultant had represented to LVSC that he was a former PRC government official, and had advertised his political connections with PRC government officials as a primary qualification to provide assistance to the company.

On January 19, 2017, LVSC entered into a non-prosecution agreement (NPA) with the DOJ. Purusant to the terms of the NPA, LVSC agreed to pay a $6.96 million criminal penalty, which reflects a 25-percent reduction off the bottom of the applicable U.S. Sentencing Guidelines fine range. LVSC also agreed to enhance its compliance program, and to report to the department on the implementation of its enhanced compliance program. The DOJ cited a number of factors in support of this resolution, including the company's cooperation and extensive remedial measures. The company did not receive voluntary disclosure credit because "it did not voluntarily and timely disclose to the Fraud Section the conduct described in the Statement of Facts."

In related proceedings, on April 7, 2016, the SEC filed a cease and desist order against LVSC, pursuant to which LVSC agreed to pay a civil penalty of approximately $9 million.

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