Las Vegas Sands antes $9M to settle corruption case with SEC
LAS VEGAS (AP) — Las Vegas Sands is paying a $9 million fine to settle a regulatory investigation that painted a sordid picture of the casino owner's expansion into a gambling mecca in China.
The resolution announced Thursday closes a Securities and Exchange Commission probe that began more than five years ago.
The corruption case revolved around Las Vegas Sands' efforts to become a major player in Macao, an enclave in China that has turned into a gold mine for U.S. casinos.
The SEC penalized Las Vegas Sands for shady dealings with a consultant paid $62 million to serve as a "beard" for some of its business in Macao and Beijing. The inquiry concluded some payments weren't properly authorized or documented.
Las Vegas Sands Corp. neither admitted nor denied any of the SEC's findings.