International edition
June 18, 2021

After ex Sands China CEO accusations

Las Vegas Sands is investigated by US Department of Justice

(US).- Las Vegas Sands is being investigated by regulators after an ex-employee accused it of making improper payments. The company said it was being probed by the Securities and Exchange Commission, and the US Department of Justice.

F

ormer 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.
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