Sheldon Adelson's Woes Mount With Grand Jury In Las Vegas Sands Money-Laundering Probe
Source: Huffington Post
The legal headaches besetting billionaire Sheldon Adelson’s Las Vegas Sands Corp. now include a grand jury in Los Angeles, part of a federal money-laundering probe of his Nevada-based casinos, The Huffington Post has learned.
The involvement of a federal grand jury, not previously reported, suggests an escalation of the money-laundering investigation into Sands and one of its executives, being led by the U.S. attorney for Los Angeles, according to a person with direct knowledge of the inquiry. The person requested anonymity because he wasn’t authorized to discuss the grand jury’s work, which is not public.
Investigators are probing whether Sands broke money-laundering laws by failing to report millions in potentially questionable transfers of money several years ago by two-high rollers at its casinos. Both men have separately been charged with other crimes and one has since been sentenced to jail for accepting illegal kickbacks.
Grand juries are often used by federal prosecutors for obtaining testimony from witnesses or targets, and issuing subpoenas for documents, said lawyers specializing in white collar investigations. "You typically go to a grand jury when you’re ready for indictment, or as a strong-arm tactic" to reach a settlement, said a former federal prosecutor.
Read more: http://www.huffingtonpost.com/2013/06/05/sheldon-adelson-grand-jury-money-laundering_n_3381628.html
= new reply since forum marked as read
by Steve Bertoni 11/08/2012
...And what’s his game? Many a pundit paint Adelson as a rich guy who backs politicians that can make him richer. It’s more complex than that. After all Adelson, who told me in the past that he fears that Barack Obama is trying to make the U.S. a socialist country, has made more money ($17.1 billion) than any American one since Obama took office. If it was just about cash for Adelson then Obama would be his guy.
So what moves him? First, the staunch support of Israel. Next he wants to fix what he sees as America’s waning capitalist spirit. As he told me for a Forbes cover story back in February:
“What scares me is the continuation of the socialist-style economy we’ve been experiencing for almost four years. That scares me because the redistribution of wealth is the path to more socialism, and to more of the government controlling people’s lives. What scares me is the lack of accountability that people would prefer to experience, just let the government take care of everything and I’ll go fish or I won’t work, etc. U.S. domestic politics is very important to me because I see that the things that made this country great are now being relegated into duplicating that which is making other countries less great. … I’m afraid of the trend where more and more people have the tendency to want to be given instead of wanting to give. People are less willing to share. There are fewer philanthropists being grown and there are greater expectations of the government. I believe that people will come to their senses and not extend the current Administration’s quest to socialize this country. It won’t be a socialist democracy because it won’t be a democracy.
http://www.forbes.com/sites/stevenbertoni/2012/11/08/why-sheldon-adelsons-election-donations-were-millions-well-spent/
I wonder if Bertoni has changed his mind since then. It's unlikely Adelson will do any time, unlike his underlings, he may lose a lot of money.
Which would really hurt his feelings.
BTW, Sheldon, where is that socialist utopia you speak of?
Because I sure voted for that, twice and only see slight signs of it coming to pass. Like the ACA, increased Medicaid, etc.
I want more stuff, baby!
