Previously Head of a Las Vegas Casino, Sibella, Sentenced for Money Laundering
Scott Sibella, the ex-president of MGM Grand and Resorts World in Las Vegas, received a lenient punishment from a federal judge on Wednesday. He was given a year's probation, a $9,500 fine, and an additional $100 special assessment. The sentencing took place at the Central District Court of California in downtown LA. Sibella pleaded guilty to breaking the Bank Secrecy Act, which was set up to combat money laundering in financial institutions, back in January.
The infractions happened between August 2017 and February 2019 when Sibella was working at MGM Grand Las Vegas as its president and COO. He admitted to not filing suspicious-transaction reports required by the act. The transactions were worth millions of dollars and were placed by former minor-league baseball player Wayne Nix, someone Sibella knew was running an illegal sports-betting business.
Sibella served as president of Resorts World from 2019 until the company fired him over a violation in 2023. In a conversation with federal investigators in January 2022, he admitted to hearing that Nix was in the booking business and couldn't understand how he had the money to gamble.
Nix, located in Newport Coast, California, awaits sentencing after he pleaded guilty last April to running an illegal gambling operation and filing a false tax return.
Unexpected Leniency
Sibella could've faced up to five years imprisonment and a $250,000 fine, but his lawyers pushed for probation and presented letters of support from individuals such as Clark County Sheriff Kevin McMahill on Friday. In the recommendations for Sibella's sentencing, the Probation Office mentioned his acceptance of responsibility through his guilty plea and his age of 61 as reasons for leniency.
After Sibella's guilty plea, the MGM Grand and Cosmopolitan agreed to pay a combined $7.45 million to end a related investigation by the US Justice Department. They also agreed to undergo an external review and amend their compliance programs.
The Nevada casino authorities are also thinking about revoking or suspending Sibella's state gambling license and fining him up to $750,000 for his actions. A three-count complaint was filed by the state Gaming Control Board on April 30th, though it's yet to be reviewed by the Nevada Gaming Commission.
Before he took over at MGM Grand in June 2011, Sibella held prominent executive positions at The Mirage and Treasure Island.
Sibella's legal representation includes Jeffrey Rutherford from Los Angeles and John Spilotro, whose last name should strike a chord with Las Vegas history enthusiasts, as he is the nephew of deceased mob boss Anthony "The Ant" Spilotro.
Read also:
- Remaining contenders down to two in DFB's struggle versus Brazil.
- Law enforcement agencies in various metropolises plan expansive measures for May 1.
- Berlin Transport Senator Schreiner Steps Down over Doctorate Issues
- The Next Development in the DAZN/DFL Billion Euro Controversy
Source: www.casino.org
