Sands Corp. Denies Bribery Claims

Media reports claiming Las Vegas Sands Corp., controlled by billionaire Sheldon Adelson, allegedly violated the Foreign Corrupt Practices Act in the company’s dealings in China, are untrue and blown out of proportion, according to a March 3 statement.

The statement rebuts news stories that claim LVS’ March 1 SEC filing said an internal audit committee report allegedly said the company may have violated anti-bribery provisions of the Foreign Corrupt Practices Act.

“The company did not report any violations of the anti-bribery provisions of the FCPA as the headline in today’s New York Times, which described the matter by saying ‘Casino Says It Likely Cheated’ are both inflammatory and defamatory,” the statement said. “The company …will vigorously defend itself against that type of uninformed and misleading reporting.”

Officials said what was reported in the March 1 SEC filing is that the preliminary finding of the audit committee advised there may have been “likely violations” of books, records and internal controls provisions of the FCPA, and nothing more. Those violations could be an incorrectly recorded transaction to other accounting errors.

LVS properties in China include the Venetian Macao, Four Seasons Hotel Macao, Sands Cotai Macao and Sands Macao.

The SEC reportedly subpoenaed LVS in 2011 possibly as a result of a civil lawsuit filed by former LVS exec Steven Jacobs regarding his 2010 dismissal.

The lawsuit, seeking unspecified damages, accuses Adelson of allowing prostitution and other illegal acts to take place at the Macao properties.