Adelson<\/a> has said Jacobs was sacked for \u201cincompetence,\u201d but Jacobs claims it was for trying to blow the whistle on company improprieties in China and Macau. Jacobs alleged these included business deals with triad figures and payoffs to Chinese officials.<\/p>\nJacobs Settlement<\/b><\/h2>\n
After a long legal battle, LVS settled with Jacobs in May 2016 for an undisclosed sum, which a Wall Street Journal source claimed was $75 million.<\/p>\n
But LVS believes it has been largely vindicated by the SEC and DOJ investigations because they failed to uncover evidence of Jacob\u2019s more serious claims.<\/p>\n
While the investigations looked into those allegations, they mainly found fault with the record-keeping of former COO William Weidner in 2006, long before Jacobs joined the company.<\/p>\n
“The company is pleased that its cooperation and long-term commitment to compliance were recognized in reaching this resolution.<\/strong><\/em><\/p>\nWe are equally pleased that all inquiries related to these issues have now been completely resolved,” Las Vegas Sands spokesman Ron Reese said in an email to\u00a0Reuters.<\/p>\n
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Sheldon Adelson\u2019s Las Vegas Sands will pay almost $7 million to resolve a Department of Justice investigation into federal anti-bribery law violations in China and Macau. It is illegal, under the US Foreign Corrupt Practices Act, for companies and their executives to attempt to influence foreign government officials with personal payments. The investigation found no […]<\/p>\n","protected":false},"author":42,"featured_media":44034,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[62,21,10],"tags":[],"acf":[],"yoast_head":"\n
Las Vegas Sands To Pay DOJ $7 Million Due To China Funds\u00a0Investigation<\/title>\n\n\n\n\n\n\n\n\n\n\n\n\n\t\n\t\n\t\n\n\n\n\n\n\t\n\t\n\t\n