10 Aug 2020
Wynn Resorts Ltd. has received two grand jury subpoenas regarding its compliance with anti-money laundering policies and procedures.
The company said the subpoenas come from the U.S. Attorney’s Office for the Southern District of California and were received in the first half of the year.
The request for information relates to transactions at Wynn Las Vegas involving “certain patrons and agents” who either reside or operate in foreign jurisdictions, according to a Thursday filing with the Securities and Exchange Commission.
“From time to time, the Company receives regulatory inquiries about compliance with anti-money laundering laws,” Wynn said in the statement. “The Company continues to cooperate with the U.S. Attorney’s Office in its investigation, which remains ongoing.”
The company said there have so far been no charges or claims and it is unable to predict the outcome of the investigation — or likelihood of possible losses that would stem from any charges against the company.
By Bailey Schulz, Las Vegas Review-Journal, 7 August 2020
Read more at Las Vegas Review-Journal
RiskScreen: Eliminating Financial Crime with Smart Technology
Count this content towards your CPD minutes, by signing up to our CPD WalletFREE CPD Wallet