Las Vegas Sands is investigated by US Department of Justice
Former Sands China CEO, Steve Jacobs, accused the firm of using improper leverage against government officials. He made his allegations in a lawsuit he has filed against Las Vegas Sands. Jacobs, who was fired by the company, is claiming breach of contract.
The firm said it will co-operate with the probe, and denied the allegations and that the US watchdog and Department of Justice were looking into its compliance with the Foreign Corrupt Practices Act.
The act makes it illegal for companies to give foreign officials improper payments.
The company said that the Securities and Exchange Commission had asked it to produce documents related to its Macau operations.
The Department of Justice was carrying out a separate probe, the company disclosed in its annual report.
Las Vegas Sands warned that the ongoing investigation could have a further impact.
"Any violation of the Foreign Corrupt Practices Act or applicable anti-money laundering regulation could have a negative impact on us,” the firm said.State attorneys general push for local control over sports prediction markets
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