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Saturday, September 24, 2016

Adelson Casino Company ‘Likely’ Violated Anti-Bribery Law

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Vegas oddmakers should bet against Sheldon Adelson.

The casino magnate and Republican mega-donor’s losing streak continued with the latest news that his Las Vegas Sands Corporation admitted in a regulatory filing with the Securities and Exchange Commission that it had “likely” violated a federal law against bribing foreign officials. The annual regulatory report states “that there were likely violations of the books and records and internal controls provisions of the Foreign Corrupt Practices Act.”

The SEC, Department of Justice, and the Federal Bureau of Investigation are all investigating Adelson’s company over its business dealings in Macau, China.

Adelson is also running into trouble in Spain, where activists are protesting against Las Vegas Sands’ plans to build a massive 1,850-acre casino project outside of Madrid called EuroVegas.

In the last election, Adelson vowed to spend $100 million to defeat President Obama. He ended up spending a single donor record $98 million on conservative Republican candidates (although with “dark money,” that number could approach more than $150 million). And while Adelson’s biggest fails were backing losers Mitt Romney and Newt Gingrich, his overall return on investment, along with his wife Miriam, was only 40 percent.

The Macau investigations are one reason some speculated that Adelson backed Romney. The investigations into possible illicit ties with Chinese officials and gangsters, particularly stemming from the shadowy financial relationship with the Sands’ legal council Leonel Alves, could cause Adelson to lose his license and topple his global gambling empire.

Photo credit: Bectrigger via Wikimedia Commons

 

  • bpai99

    As Adelson well knows, laws don’t apply to the super-rich. At worst he’ll get the equivalent of a parking ticket so GOP candidates can say he has been “punished” and therefore there’s no reason not to let him continue funding their campaigns. End of story.

    The Golden Rule: those with the gold make the rules.

  • TZToronto

    I’ve eaten at the Venetian and lost about $40 at the Palazzo. I also used the restroom there. That’s the extent of my contributions to Adelson’s enterprises.

  • I would LOVE to see Adelson, this “Shande fur die goyim,” behind serious bars.

    • amazonfan

      Me too. I’m ashamed to share the same religion as him.

  • jstsyn

    Get rid of him. He has no respect for anyone but himself. He should not be allowed to buy his way in or out of anything. He is nothing but a cheap gangster type that should be stripped of his citizenship. Deport him to anywhere but America.

  • Pamby50

    Couldn’t happen to a nicer person.

  • In the rest of the world corruption runs rampart & bribery is an accepted way of doing business.

    In the US corruption runs rampart & bribery is an accepted way of doing business, as long as you don’t get caught.

    So they created these ‘campaign warchests’ that collect bazillions in ‘dark money’. That’s a bribe baby.