Mon, Aug 06, 2012 - Page 7 News List

Republican donor’s firm in the spotlight

AFP, NEW YORK

The US Department of Justice has launched an investigation into whether Las Vegas Sands Corp and several of its executives violated money-laundering laws, the Wall Street Journal reported on Saturday.

Citing unnamed lawyers and other people involved in the matter, the newspaper said the probe is being conducted by the US attorney’s office in Los Angeles.

Its investigators want to find out how the casino handled money received several years ago from a Mexican businessman later accused of drug trafficking and a former California executive subsequently convicted of taking illegal bribes.

Sands’ chief executive and largest shareholder is hotel and casino industry mogul Sheldon Adelson, whose personal wealth is estimated to be nearly US$25 billion.

Adelson is a tough critic of US President Barack Obama and his policies, who has publicly vowed to do everything possible to prevent his re-election.

“What scares me is the continuation of the socialist-style economy we’ve been experiencing for almost four years,” Adelson said. “That scares me because the redistribution of wealth is the path to more socialism and to more of the government controlling people’s lives.”

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