Showing posts with label Sheldon Adelson. Show all posts
    Showing posts with label Sheldon Adelson. Show all posts

  • Remember Sheldon Adelson? It seems like he has a lot to benefit from a Romney administration. If Mitt gets his way and enacts his planned tax cuts, Adelson stands to gain approximately $2.3 billion in tax cuts. As it turns out, $2.3 billion goes a long way in some places.
  • Not pictured: Mitt Romney pulling one of his expensive wingtips out of his mouth.

    Checked out the coverage of 2012 London Summer Olympics on NBC? Yeah, neither did I. BBC does it better, anyways.

    What NBC could do is knock off the "special interests" angle, dispense with the long-winded interviews and focus on the actual sports action. Oh, and tell Bob Costas that bringing up Idi Amin when the Ugandans appear is in poor, poor taste.

    “Winston Churchill once described Uganda as the ‘pearl of Africa’; of course, Churchill never met Idi Amin.”

    Such poor taste, Bobby.

    Meanwhile, conservatives are dredging up Obama's "Polish Death Camps" remark as a counterweight against #RomneyShambles. Please refer to the rabid ramblings of this Telegraph article for more details. Be sure to wash your hands and rinse your eyes when you're done.

    In the wake of the Chik-Fil-A boycott, conservatives are flocking to the Georgia-based chain of addictively delicious fast-foodstuffs. The folks at Twitchy think conservatives have gained a moral victory of sorts, one waffle fry at a time. Even Sarah "You Betcha I'm Off Mah Rocker" Palin and hubby are getting in on the act.

    Me? I could care less. I haven't been to Chik-Fil-A in weeks. Plus, I've already found a nifty recipe for the chicken sandwiches and I'm sure I can find the same for those waffle fries. Still waiting on one that replicates their milkshakes.

    Meanwhile, a white Southern Baptist church in Mississippi behaves exactly as I'd expect it to when it comes to black folk. But hey, at least they got as far as becoming church members before those true colors came out.

    And to cap things off:



    Well, just like Mitt can't have commoners snooping around in his tax information, he can't have them nosing around how he gets his campaign bucks. Besides, guys like Sheldon Adelson prefer privacy when they attend to their political ladies of the night.

    I wonder what people would say if the president did the same thing...
  • The Foreign Corrupt Practices Act of 1977, as amended, 15 U.S.C. §§ 78dd-1, et seq. ("FCPA"), was enacted for the purpose of making it unlawful for certain classes of persons and entities to make payments to foreign government officials to assist in obtaining or retaining business. Specifically, the anti-bribery provisions of the FCPA prohibit the willful use of the mails or any means of instrumentality of interstate commerce corruptly in furtherance of any offer, payment, promise to pay, or authorization of the payment of money or anything of value to any person, while knowing that all or a portion of such money or thing of value will be offered, given or promised, directly or indirectly, to a foreign official to influence the foreign official in his or her official capacity, induce the foreign official to do or omit to do an act in violation of his or her lawful duty, or to secure any improper advantage in order to assist in obtaining or retaining business for or with, or directing business to, any person.

    Source: USDOJ

    Previously, yours truly detailed Sheldon Adelson's role in the Romney campaign as a sugar-daddy in the shadows, feeding Romney's Super PACs plenty of vitamin M. Today, it seems Adelson has a few problems of his own.

    A decade ago gambling magnate and leading Republican donor Sheldon Adelson looked at a desolate spit of land in Macau and imagined a glittering strip of casinos, hotels and malls.

    Where competitors saw obstacles, including Macau’s hostility to outsiders and historic links to Chinese organized crime, Adelson envisaged a chance to make billions.

    Adelson pushed his chips to the center of the table, keeping his nerve even as his company teetered on the brink of bankruptcy in late 2008.

    The Macau bet paid off, propelling Adelson into the ranks of the mega-rich and underwriting his role as the largest Republican donor in the 2012 campaign, providing tens of millions of dollars to Newt Gingrich, Mitt Romney and other GOP causes.

    Now, some of the methods Adelson used in Macau to save his company and help build a personal fortune estimated at $25 billion have come under expanding scrutiny by federal and Nevada investigators, according to people familiar with both inquiries.

    Internal email and company documents, disclosed here for the first time, show that Adelson instructed a top executive to pay about $700,000 in legal fees to Leonel Alves, a Macau legislator whose firm was serving as an outside counsel to Las Vegas Sands.

    The company’s general counsel and an outside law firm warned that the arrangement could violate the Foreign Corrupt Practices Act. It is unknown whether Adelson was aware of these warnings. The Foreign Corrupt Practices Act bars American companies from paying foreign officials to “affect or influence any act or decision” for business gain.

    If this all sounds familiar to you, all you have to do is look back to the end of the first term of the Clinton administration, when "Chinagate" hit full stride. Conservatives attempted to use the charging and eventual conviction of businessman and Democrat donor Johnny Chung on fraud charges as proof positive of the Chinese getting their recently capitalist-yet-residually-commie meathooks into the 42nd president.

    When a conservative high-roller is found in bed with Chinese politicians and businessmen with possible gang ties, you won't even hear crickets, just silence.

    Federal investigators are looking at whether the payments violate the statute because of Alves’ government and political roles in Macau, people familiar with the inquiry said. Investigators were also said to be separately examining whether the company made any other payments to officials. An email by Alves to a senior company official, disclosed by The Wall Street Journal, quotes him as saying “someone high ranking in Beijing” had offered to resolve two vexing issues — a lawsuit by a Taiwanese businessman and Las Vegas Sands’ request for permission to sell luxury apartments in Macau. Another email from Alves said the problems could be solved for a payment of $300 million. There is no evidence the offer was accepted. Both issues remain unresolved[...]

    [...]Alves holds three public positions. He sits on the local legislature. He belongs to a 10-member council that advises Macau’s chief executive, the most powerful local administrator. And he’s a member of the Chinese People’s Political Consultative Conference, a group that advises China’s central government.

    Nevada officials are now poring over records of transactions between junkets, Las Vegas Sands and other casinos licensed by the state, people familiar with the inquiry say. Among the junket companies under scrutiny is a concern that records show was financed by Cheung Chi Tai, a Hong Kong businessman.

    Cheung was named in a 1992 U.S. Senate report as a leader of a Chinese organized crime gang, or triad. A casino in Macau owned by Las Vegas Sands granted tens of millions of dollars in credit to a junket backed by Cheung, documents show.

    Cheung did not respond to requests for comment.

    Cheung isn't the only reported gangster with tangible ties to Adelson's empire. Chinese-Mexican businessman and alleged drug trafficker Zhenli Ye Gon also happened to be one of Adelson's biggest whales:

    It has since risen to $350 million and a lot of his fortune found its way to Las Vegas. On the Strip, he was known as Mr. Ye, the highest of high rollers. He stayed primarily at the The Venetian (Las Vegas) where he regularly wagered $200,000 per hand in the baccarat salon. He lost big. The original estimate by DEA was $40 million in losses. They now think it was closer to $126 million — an astonishing sum. When authorities raided his home in Mexico they found $200 million in cold hard cash[...]

    There's a lot of dirt under Sheldon Adelson's rug, but chances are it'll all be left under the carpet in the end.