Las Vegas Sands Admits "Likely" Violation of Corruption Act
Mar 2nd 2013 8:16AM
Updated Mar 4th 2013 10:18AM
Las Vegas Sands has indicated in a regulatory filing that it might have been responsible for violating an anti-corruption law. In the company's 10-K filed with the Securities and Exchange Commission, it wrote that an internal review "had reached certain preliminary findings, including that there were likely violations of the books and record and internal controls provisions of the FCPA."
The FCPA is the Foreign Corrupt Practices Act, a federal law that prohibits American companies from bribing public officials in foreign countries.
The company said that the preliminary findings do not have a material impact on the company's financial statements and do not "represent a material weakness in the Company's internal controls over financial reporting."
Las Vegas Sands did not provide significant detail on its findings. According to The Wall Street Journal, the potential violations relate to a set of business deals in China.
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