Las Vegas Sands Corps
7 August 2012. The Wall Street Journal reported that US Attorney’s office in California is investigating Las Vegas Sands Corp and several of its executives on the handling of the money received from a Mexican businessman and a California executive. a Chinese-born Mexican national businessman, Zhenli Ye Gon, was later accused of drug trafficking while Fry’s Electronics retail chain executive Ausaf Umar Siddiqui was subsequently convicted of receiving illegal kickbacks from Fry’s vendors. He pleaded guilty and is now in prison. In another court filing it was shown that he sent more than $100 million to Sands. In après interview in 2007 Ye Gon said that he would bet $150,000 a hand at baccarat during his gambling sprees, and that the Sands-owned Venetian casino gave him a Rolls Royce. He lost more than $125 million at Vegas casinos, including the Venetian, according to a 2007 affidavit by a federal agent who reviewed casino records, although $40 million of that was lent to him by casinos and never paid back. Mr. Ye Gon’s case recently was cited in a report by the Senate Permanent Subcommittee on Investigations into money laundering at U.K. bank HSBC, where Mr. Ye Gon kept many accounts. In a recent Senate hearing, an HSBC executive said that the bank had made mistakes in its handling of Mr. Ye Gon. In 2009, the government’s case against Mr. Ye Gon for trafficking the illegal stimulant methamphetamine was dismissed after prosecutors found problems with evidence and witnesses. Ye Gon is still in U.S. custody. He is awaiting extradition to Mexico, where authorities want to try him on drug trafficking and money laundering charges. In a separate operation the US authorities are looking into possible violation of Foreign Corrupt Practices Act in its Macau operations. Sands’ executives have denied any wrong doings. Adelson, who owns casinos in Las Vegas, Macau and Singapore, began this campaign season as a major donor to Newt Gingrich before Gingrich dropped out of the Republican presidential race. Adelson, a tough critic of President Barack Obama and his policies, has publicly vowed to do everything possible to prevent his re-election.