Two Las Vegas casinos were ordered to pay a combined $7.45 million fine in a money-laundering settlement connected to Wednesday’s guilty plea by former gaming executive Scott Sibella, the Justice Department said Thursday.
The MGM Grand and The Cosmopolitan of Las Vegas casinos’ fines are for violations of the Bank Secrecy Act, the Justice Department said.
Sibella, a former president at Resorts World and the MGM Grand, entered his guilty plea to one count of failure to file reports of suspicious transactions required to be made by casinos in U.S. District Court in Los Angeles. He worked at MGM Grand when illegal bookmaker Wayne Nix gambled at the casino and Sibella failed to notify compliance officers of possible money-laundering, according to the Justice Department.
In a 17-page plea agreement, Sibella admitted to knowing Nix ran an illegal bookmaking business, but still allowed him to gamble.