Las Vegas Casino Charged with FCPA Violations
The SEC charged a Las Vegas casino a $9 million penalty for failing to properly document more than $62 million in payments to a consultant who facilitated business activities abroad.
Additionally, the casino failed to prevent employees from circumventing policies and procedures for purchases, reimbursements to outside counsel and comps to customers.
The casino agreed to pay the $9 million penalty and retain an independent consultant for two years to review its FCPA-related internal controls and recordkeeping and financial policies and procedures, as well as its ethics and compliance functions.
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The SEC announced that a wireless technologies company agreed to pay a $7.5 million civil penalty to settle charges that it violated the Foreign Corrupt Practices Act. This settlement marks the first instance in which a non-bank was charged with hiring practice-related FCPA violations.
