Caesars is probably to pay a fine of between $12 million and $20 million for failing to implement proper anti-money laundering measures at their flagship nevada property.
Caesars Entertainment Corp. could be subjected to an incredible number of dollars in fines as the company tries to settle money laundering allegations it faces from the government that is federal. The gaming operator is in talks with US authorities over how to settle the claims, which could result in a fine somewhere within the array of $12 million to $20 million.
Talks, which have already been carried out between your Financial Crimes Enforcement Network (FinCEN) of the US Department associated with Treasury, were of late held on 29 and were revealed in the company’s latest Securities and Exchange Commission filing april. A federal jury that is grand to the allegations normally ongoing.
‘The company and Caesars Palace have already been completely cooperating with both the FinCEN and grand jury investigations since October 2013,’ Caesars said in its filing.
Investigation Began in 2013
Back 2013, FinCEN first informed Caesars it was investigating the ongoing company for alleged violations associated with the Bank Secrecy Act, an anti-money laundering law. During the right time, it was unclear what, if any, penalties would emerge from the research.
FinCEN has long felt that casinos did a poor job of preventing money Lire la suite