Las Vegas Sands Corp’s Sheldon Adelson Focus of Affidavit

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John L. Smith of the Las Vegas Review Journal on Sunday discusses the potentially embarrassing email of Sands executives about company founder Sheldon Adelson as well as an affidavit from former company president Steve Jacobs, which, among other things, notes the following about Adelson:

“- Adelson’s direction to me to have investigative reports prepared on Macau government officials as well as certain junket representatives reputed to have ties to Chinese gangs known as Triads;

“- Adelson’s demands that I use improper “leverage” against senior government officials of Macau in order to obtain Strata-Title for the Four Seasons Apartments in Macau;

“- Adelson’s demands that I threaten to withhold SCL business from prominent Chinese banks unless they agreed to use influence with the newly-elected senior government officials of Macau in order to obtain Strata-Title for the Four Seasons Apartments and favorable treatment with regards to labor quotas and table limits;

“- Adelson’s demands that SCL continue to use the legal services of Macau attorney Leonel Alves despite concerns that Mr. Alves’ retention posed serious risks under the criminal provisions of the United States code commonly known as the Foreign Corrupt Practices Act (“FCPA”).

Smith also reports that the Jacobs litigation is revealing a massive cash courier service that shows some $68 million in player cash was flown between Asia and Las Vegas. 

Writes Jacobs, “Upon information and belief, these funds total tens of millions of dollars and may then (be) used for a variety of purposes, including as cash advances for customers to spend when they arrive in Nevada, to re-pay past debts incurred at LVSC’s Las Vegas properties, or for the benefit of authorized persons other than the transferee.”

“Authorized persons other than the transferee?”

The story is a most intriguing one that also involves elements of Asian organized crime.

Smith suggests that some of this information is “bound to keep Nevada’s Gaming Control Board intrigued”.

Read more of John L. Smith’s provocative account here.

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