Adelson Casino Company ‘Likely’ Violated Anti-Bribery Law

800px-Sheldon_Adelson_21_June_2010

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

 

Start your day with National Memo Newsletter

Know first.

The opinions that matter. Delivered to your inbox every morning

Mike Johnson
Speaker Mike Johnson

House Democratic leadership announced Tuesday that they’ll allow members to block any effort from Rep. Marjorie Taylor Greene (R-GA) and her tiny team of nihilists to oust Speaker Mike Johnson, a reminder of where the power sits in the House.

Keep reading...Show less
Trump Endorses Anti-Abortion Monitoring Of Pregnancy By States

Former President Donald Trump

Killing Abortion Ban Repeal

With little more than six months until Election Day, Donald Trump is preparing for an “authoritarian” presidency, and a massive, multi-million dollar operation called Project 2025, organized by The Heritage Foundation and headed by a former top Trump White House official, is proposing what it would like to be his agenda. In its 920-page policy manual the word “abortion” appears nearly 200 times.

Keep reading...Show less
{{ post.roar_specific_data.api_data.analytics }}