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Resorts Used to Launder Money, Says Government28 February 2006LAS VEGAS, Nevada -- As reported by the Business Press: "Major Strip properties are again being brushed by an Asian money-laundering scandal. A quartet of casinos was used as a conduit for Chinese racketeers to embezzle funds into the United States, according to an indictment filed by the U.S. Attorney's office. "Four of the alleged embezzlers were arraigned two weeks ago. The fifth, Kwong Wa Po, is currently at large. "In the third count of the indictment, unsealed Jan. 31, the government charged that members of the alleged criminal enterprise misappropriated $485 million from the Bank of China and laundered it through Las Vegas as follows: The government contends that the Paris was one of four Strip properties used for money laundering. "* $130,000 deposited at Paris Las Vegas Casino Resort "on or about" Oct. 10, 2000. "* $12,000 in chips purchased at Treasure Island "on or about" Nov. 7, 2000. "* $2 million deposited at The Rio Suite Hotel & Casino's Hong Kong office, approximately April 27, 2001. "* A $1 million check made out to Caesars Palace, dated May 7, 2001. "...It is unclear whether any of the casinos are among the "Unindicted co-conspirators, known and unknown" referenced on page 3 of the indictment..." |