Marina Bay Sands Casino Faces Money Laundering Probe By US Department Of Justice

Bloomberg reported that Singapore’s Marina Bay Sands (MBS) is facing a money laundering probe by the US Department of Justice (DOJ) for alleged money-laundering. It was said that the MBS may be investigated over how it handled the accounts of its top gamblers. A grand jury subpoena was reportedly issued to an ex-Chief of Compliance at MBS in January this year. However this investigation is still in its early stages.

It was also reported that MBS is separately being investigated by Singapore’s Casino Regulatory Authority over some “money transfer policies”. Bloomberg quoted an anonymous source that some MBS employees were discovered to had inappropriately filled in payment details on authorisation forms which were either pre-signed or photocopied.

Back in 1994, Lee Kuan Yew stated that casinos would only be allowed in Singapore over his “dead body”. He was opposed to the ideas of casinos here for many years. One of the concerns may have been the dangers of Singaporeans spiraling into gambling addiction.

However, Lee Hsien Loong eventually convinced his father, even managing to make him an advocate and defender of the policy to make Singapore an entertainment centre. This was in an attempt to boost business and tourism with the concept of an “integrated resort”.

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