The Las Vegas Sands agreed to return $47.4 million to the U.S. Treasury to end a probe into the casino's failure to alert authorities to suspicious deposits by a high-rolling gambler, federal officials said on Tuesday.
Sands, the operator of the Venetian and Palazzo hotel complex in Las Vegas, accepted wire transfers and cashier's checks between 2005 and 2007 from Zhenli Ye Gon and should have reported the transactions as suspicious, said the U.S. Attorney's Office in Los Angeles.
By the end of 2006 or early 2007, Ye Gon was "the largest all-cash, up-front gambler the Venetian-Palazzo had ever had to that point," according to the non-prosecution agreement.
In March 2007, Ye Gon's residence in Mexico City was searched by law enforcement authorities, who seized about $207 million in U.S. currency, the largest-ever currency seizure.
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