Resorts
Used to Launder Money, Says Government
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..."
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