Caesars Entertainment faces money laundering probe

The Treasury Department could take civil action against the casino company

Executives at Caesars Entertainment Corp. know a few things about when to hold ‘em and when to fold ‘em. But when those gambles lead to a federal investigation into possible money laundering, as well as state-led investigations in both Massachusetts and Nevada, it seems that Caesars went all-in at the wrong time.

Caesars disclosed on Oct. 21 that tis being investigated by U.S. government for potential money laundering. A letter from the Treasury Department’s Financial Crimes Enforcement Network, dated Oct. 11, told Caesars Palace owner Desert Palace Inc. that the government was investigating possible Bank Secrecy Act violations and weighing whether to take civil action.

Assistant Editor

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Zach Warren

Zach Warren is Assistant Editor of InsideCounsel magazine, where he oversees online content submissions and administers InsideCounsel's enewsletters. Zach specializes in new media and multimedia...

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