Posted on 11/22/2014 7:47:31 PM PST by Freedom of Speech Wins
Wynn Resorts under investigation for potential money laundering
by Tom Huddleston, Jr. @tjhuddle NOVEMBER 21, 2014, 11:09 AM EST E-mail Tweet Facebook Google Plus Linkedin Share icons
Federal agencies and offices are reportedly trying to determine if the casino operator violated money-laundering laws.
A range of federal agencies and offices are trying to determine if casino operator Wynn Resorts violated money-laundering laws, according to The Wall Street Journal, which cites anonymous sources.
The Journal says the Internal Revenue Service and Drug Enforcement Administrations are working together with U.S. Attorney’s offices in Manhattan and Las Vegas on an investigation into Wynn Resorts, including what safeguards the Las Vegas-based company has in place to prevent money-laundering. The agencies are working to uncover any potential evidence that Wynn may have violated laws as part of its sports-betting and casino gambling operations.
“We are not aware of any investigation of the company and no agency has notified the company that it is under any investigation,” a Wynn Resorts spokesman said in a statement. “As a highly regulated business we are in a constant dialogue with regulators and governmental agencies on a variety of matters and the fact that information is requested from us by a governmental agency in no way implies the accusation of wrongdoing by the company.”
Wynn WYNN 1.01% is the latest casino operator to find itself the subject of a criminal probe related to money-laundering. The U.S. Treasury Department began investigating Caesars Entertainment CZR 5.81% for possible violations last year in a probe aimed at the company’s flagship Las Vegas hotel and casino, Caesars Palace. And, earlier in 2013, the Las Vegas Sands LVS 1.89% agreed to pay more than $47 million to settle a similar probe that involved that casino’s failure to alert the government after a high-stakes gambler made a series of large, suspicious deposits with the casino.
Editor’s note: This article has been updated with a statement provided by Wynn Resorts.
It appears Barry’s Gestapo is going after the Republicans again.
Steve Wynn has been an outspoken critic of Obola.
So casino chips are now a financial instrument subject to reporting when purchasing them? Creative. The Sands appears to certainly have stabbed every other casino in the back by settling.
If it takes a gaggle of federal agencies to even determine whether a crime has been committed, the crime should be stricken from the books.
that was my first thought,
speak out against that demon infesting the carcase inhabiting the white house and get a visit from the brown shirts,
Someone must have said NO, when the demonrats asked for a bri............er, donation.
I have no idea what these people may or may not have done, but isn’t the government charging people with crimes, kind of a pot meet kettle moment?
The owner has Las Vegas connections to Harry Reid and Willard and the Mormons...
all crooks...
that’s what bill gates learned the hard way in the 1990s from clinton
cant have all that money and not play the game
Any time you have a transaction of $10,000 or more or a series of transactions that could hit that amount in a day, the casino is legally obligated to file a cash transaction report with the IRS.
Chances are, an unhappy employee blew the whistle on informal policies to allow high rollers to cash out in $8,000 increments without filing forms. Most casinos are unionized and no one hates their employers more than union workers.
Thought I was going to have to be the first to point that out. You get the prize.
All this effort to prove one guy violated the law by making a deposit at Wynn, and all the money transfers leaving the U. S. going to Mexico are untaxed.
Once again, our government’s priorities are up the... well, where the sun doesn’t shine.
Let me see if I have the facts straight.
Republican and critic of Obama Steve Wynn calls Obama an A-hole.
Months later it's reported that federal agencies are investigating Wynn.
On that same day that this reported, Obama plays golf on Steve Wynn's golf course.
So not only is there an appearance of an Obama retaliation, there is an appearance of an arrogant, on-your-golfcourse and in-your-face Obama retaliation.
He may not be a crook or at least may not be as big a crook as the others.
The other people you mention are crooks who supported Obama so none is going after them.
Not very smart. BO is going against someone who probably knows someone who could call his bluff.
“A range of federal agencies and offices are trying to determine if casino operator Wynn Resorts violated money-laundering laws, according to The Wall Street Journal, which cites anonymous sources.”
This is a shot across the bow over something or is it a stock manipulation scheme? Union muscling before contract renewal?
The only thing they’ll find on Wynn would not amount to anything but a mere fine and a ton of legal fees. Wynn and Trump are about the cleanest that venture into resort gambling.
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