The Las Vegas Sands Corporation has informed the US Securities and Exchange Commission that it believes the company violated a federal law against bribing foreign officials.
In its annual regulatory report published by the commission on Friday, March 1, Sands reported that its auditors and accountants had found there to have been that “likely violations of the books and records and internal controls provisions” of the Foreign Corrupt Practices Act.
The statement from Sands is the company’s first public acknowledgment of possible wrongdoing. The corporation said it did not believe the findings would have “material impact” on its financial statements and that it was too early to determine if the investigation would result in any losses. “The company is cooperating with all investigations,” the statement read.
The purported irregularities are believed to relate to Sands’ activities in China.
