The U.S. Treasury Department says the Tinian casino operated for years without an anti-money laundry program.
The U.S. Department of the Treasury’s Financial Crimes Enforcement Network has assessed a $75 million fine against the Tinian Dynasty Hotel and Casino for “willful egregious anti-money laundering violations.”
Financial transactions worth $10,000 or more are supposed to be recorded and reported to federal authorities, but weren’t reported at the casino for years, an earlier federal indictment states.
“Tinian Dynasty didn’t just fail to file reports … the casino operated for years without an anti-money laundering program in place,” stated Financial Crimes Enforcement Network Director Jennifer Shasky Calvery.
“Tinian Dynasty’s actions presented a real threat to the financial integrity of the region and the U.S. financial system,” Calvery stated.
Federal authorities sent undercover agents to the Tinian casino, and one posed as a representative of a Russian businessman who wanted to bring large amounts of currency he didn’t want reported to the federal government, the network stated. Casino management accommodated such requests, the federal agency stated.
The same allegation is mentioned in a federal indictment against the casino and its owner, Hong Kong Entertainment Overseas Investments Ltd.
The trial for the criminal case against the casino’s owner is scheduled to start later this month in the District Court in Saipan, court documents show.
