Las Vegas Sands probes potential money-laundering breaches at Singapore’s Marina Bay Sands casino

The US firm has set up a committee to review money transfers among high rollers and third parties at its casino in the city state

Last year ex-patron Wang Xi complained Marina Bay Sands transferred US$6.8 million from his casino account to other gamblers without his approval

Reading Time:2 minutes

The Marina Bay Sands hotels and resorts in Singapore. Photo: AFP

Published: 1:32pm, 29 Mar 2021Updated: 1:41pm, 29 Mar 2021

Las Vegas Sands Corp. set up a special committee to look into potential breaches of anti-money-laundering procedures at its Singapore casino, which has already been the target of probes by US officials and local police.

The committee of three independent board members is reviewing money transfers among high rollers and third parties at Marina Bay Sands, as well as any possible retaliation against whistle-blowers, according to people familiar with the matter.

US law firm Vinson & Elkins LLP has been hired to assist with the review, according to the people, who asked not to be identified because of the confidentiality involved. Las Vegas Sands declined to comment.

The investigation into the firm’s second-most profitable unit follows scrutiny by the US Department of Justice and Singapore police after former patron Wang Xi complained Marina Bay Sands transferred S$9.1 million (US$6.8 million) from his casino account to other gamblers without his knowledge. The Wang lawsuit was settled out of court in June with “non-admission” of liability from both sides.

The DOJ is reviewing whether the casino breached money laundering controls in its treatment of high rollers and retaliated against whistle-blowers who are current or former employees, according to a January 2020 subpoena issued to a former chief compliance officer.

A spokeswoman for the US Attorney’s Office in Nevada declined to comment. Singapore police could not immediately comment.