Former Las Vegas On line casino Prez Scott Sibella Sentenced for Cash Laundering
The previous president of the MGM Grand and Resorts World in Las Vegas was sentenced by a federal choose Wednesday to 1 yr’s probation and a $9,500 wonderful, plus a $100 particular evaluation. US District Choose Dolly M. Gee imposed the lenient sentence Wednesday within the Central District Courtroom of California in downtown LA after Scott Sibella pleaded responsible in January to violating the federal Financial institution Secrecy Act established to thwart cash laundering at monetary establishments.
Former Resorts World Las Vegas president Scott Sibella speaks on the 2021 opening of the on line casino resort that fired him two years later. (Picture: Getty)
The violations occurred from August 2017 by way of February 2019, whereas Sibella was president and COO of the MGM Grand Las Vegas.
Sibella admitted to failing to file the suspicious transaction studies which might be required of casinos underneath the Financial institution Secrecy Act. The transactions had been tens of millions of {dollars} in bets made by former minor-league baseball participant Wayne Nix, an individual Sibella knew to function an unlawful sports-betting enterprise.
Sibella, who served as president of Resorts World from 2019 till the corporate fired him over an unspecified violation of his employment contract in 2023, admitted to federal investigators in January 2022 that he had “heard that Nix was within the reserving enterprise” and “couldn’t determine how he had all the cash he gambled with.”
Nix, at present of Newport Coast, Calif. awaits sentencing following his personal responsible plea in April 2022 to working an unlawful playing enterprise and submitting a false tax return.
Important Discount
Sibella confronted as much as 5 years in jail and a $250K wonderful, although his attorneys requested probation, submitting letters of assist on Friday from notables, together with Clark County Sheriff Kevin McMahill.
In its suggestions for sentencing Sibella, the probation workplace famous that he accepted accountability for his actions by pleading responsible and that his age, 61, was additionally a mitigating issue.
Following Sibella’s responsible plea, the MGM Grand and Cosmopolitan of Las Vegas agreed to pay a mixed $7.45 million to settle a associated US Justice Division probe, to undergo an exterior overview, and to toughen their compliance applications.
Nevada on line casino regulators are additionally contemplating revoking or suspending Sibella’s state playing license and fining him as much as $750K for a similar offenses. A 3-count criticism was filed on April 30 by the state Gaming Management Board, although it has but to be thought of by the Nevada Gaming Fee.
Earlier than touchdown on the MGM Grand in June 2011, Sibella additionally held high government positions at The Mirage and Treasure Island.
Sibella’s attorneys are Jeffrey Rutherford of Los Angeles and John Spilotro of Las Vegas. The latter’s surname ought to ring a bell to all Las Vegas historical past buffs, because the prison lawyer is the nephew of murdered mafia boss Anthony “The Ant” Spilotro.
