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State and Federal Investigations into Alleged Money Laundering Involve Scott Sibella

by Daisy D.
05/01/2024
in Anti-Money Laundering (AML), Compliance

The Nevada Gaming Control Board, previously quiet on the matter since last summer’s revelation of a federal probe into Las Vegas casinos and executives, has filed a complaint against Scott Sibella, former president of MGM Grand and Resorts World. The complaint, mirroring the federal case, follows Sibella’s guilty plea in January to violating anti-money laundering laws.

State officials lodged the complaint just a week before Sibella’s sentencing in a California federal court. According to a plea agreement, Sibella confessed to permitting illegal bookmaker Wayne Nix to settle a gambling debt of $120,000 in cash at MGM in 2018, without proper reporting to federal authorities.

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In his defense, Sibella’s attorney, John Spilotro, refrained from disclosing whether Sibella intends to negotiate with the GCB or contest the agency’s disciplinary action. He stated, “When the time is right, you will know.”

Alan Feldman, a Distinguished Fellow at UNLV’s International Gaming Institute, and former MGM Resorts public relations executive, remarked on the timing of the Control Board’s actions, suggesting it would have been preferable for them to address the issue earlier. However, he downplayed concerns about the federal government taking the lead in such investigations.

Contrary to Feldman’s view, former Las Vegas gaming executive Richard Schuetz criticized the Gaming Control Board’s handling of the matter, emphasizing the importance of preserving the board’s regulatory credibility.

Both state and federal investigations have expanded beyond Sibella to include other hotels, including Resorts World, where Sibella previously held the position of president and chief operating officer until his termination in September 2023 for violating company policy.

Recent reports indicate that the GCB is looking into alleged gambling activities involving illegal bookmaker Matt Bowyer at Resorts World and other establishments. Bowyer, whose California residence was raided by federal authorities last October, admitted through his attorney to accepting bets from Ippei Mizuhara, former interpreter of baseball star Shohei Ohtani, who allegedly embezzled $16 million from Ohtani’s account to fund his gambling habit.

According to an affidavit, Mizuhara owed Bowyer tens of millions of dollars and made weekly payments of $500,000 in 2023, some of which were wired to a gambling account at Resorts World.

Resorts World denied any prior knowledge of Mizuhara’s association with Bowyer or his gambling activities at the establishment.

State gaming regulators are reportedly examining Sibella’s connections with Bowyer and possibly reconsidering previous findings that exonerated him of allegations raised by a gambler and Resorts World vendor in 2022.

Resorts World conducted an internal investigation in response to the allegations, which cleared Sibella and the hotel of any wrongdoing, as per a report presented to the GCB.

Governor Joe Lombardo and Attorney General Aaron Ford declined to comment on the ongoing investigations.

Explore top supply chain logistics news at The Supply Chain Report. Interested in international trade? Visit ADAMftd.com for free tools.

#MoneyLaunderingProbes#SibellaInvestigations#StateFederalProbe#SupplyChainNews

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