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GOP Top Funder Sheldon Adelson: We ‘Likely’ Violated Federal Law By Bribing Officials

by David Badash on March 3, 2013

in International,News,Politics

Post image for GOP Top Funder Sheldon Adelson: We ‘Likely’ Violated Federal Law By Bribing Officials

Sheldon Adelson, the billionaire international casino mogul and a top GOP contributor to several super PACs that mostly supported Mitt Romney and Newt Gingrich, stated that his Las Vegas Sands Corporation “likely” violated federal law against bribing foreign officials.

“In its annual regulatory report published by the commission on Friday, the Sands reported that its audit committee and independent accountants had determined that ‘there were likely violations of the books and records and internal controls provisions’ of the Foreign Corrupt Practices Act,” the New York Times reports:

 The disclosure comes amid an investigation by the Securities and Exchange Commission as well as the Department of Justice and the Federal Bureau of Investigation into the company’s business activities in China.

 It is the company’s first public acknowledgment of possible wrongdoing. Ron Reese, a spokesman for the Sands, declined to comment further.

The company’s activities in mainland China, including an attempt to set up a trade center in Beijing and create a sponsored basketball team, as well as tens of millions of dollars in payments the Sands made through a Chinese intermediary, had become a focus of the federal investigation, according to reporting by The New York Times and The Wall Street Journal in August.

Open Secrets lists Adelson and his wife as the top individual funding outside spending groups, contributing almost $93 million to primarily conservative candidates in the 2012 election cycle.

Think Progress adds Adelson “spent as much as $150 million on independent expenditures to bolster Republicans in the 2012 election, and posits that “[s]ince the election, Adelson said that [he] plans to double his contributions to Republican candidates and with an estimated net worth of almost $25 billion, he could theoretically spend $500,000 on every single Republican House and Senate nominee for the next 186 years.”

Place your bets…

Image by Bectrigger via Wikimedia

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{ 3 comments }

laserhaas March 5, 2013 at 7:40 pm

Mr. Adelson funded Newt Gingrich, who purchased the "King of Bain" documentary (purportedly) from a former Mitt Romney advisor.

Then Matt Taibbi came out with his, more indepth reflections entitled "Greed and Debt" the Truth About Mitt Romney and Bain Capital (see Rolling Stone September 2012 issue)

Adelson also funded Mitt Romney in the (purported) hopes of getting a "friendly" USAG (to handle those pesky Foreign Corrupt Practices Act issues).

The reason Adelson could fund such, with the hopes for such, is the PROOF by 'retroactive' Romney.

laserhaas March 5, 2013 at 7:41 pm

From mid-1999 to August 2, 2001, Colm F Connolly was a partner of the http://www.MNAT.com law firm.

MNAT is Bain Capital's law firm in Delaware.

It was the MNAT law firm that handled the merger of The Learning Company with Mattel in 1999 (TLC being owned by Romney, Bain etc)

MNAT confessed in 2005, that the firm lied to become eToys attorney.

While lying as eToys attorney, MNAT sold eToys for less than pennies on the dollar to Bain/ Kay Bee (CEO Michael Glazer)

The same Michael Glazer who then paid himself $18 million and Bain $83 million;
before he filed bankruptcy of Kay Bee.

MNAT represents Bain in that $100 million preferential transfer (probable fraudulent conveyance).

Colm Connolly made sure, as Delaware U.S. Attorney;
that Romney/ Bain and Glazer were NEVER investigated/ prosecuted.

There's your "retroactive" story and why Adelson believed he could BUY his own "friendly" USAG.

laserhaas March 5, 2013 at 7:47 pm

Hey guys and gals.

IF you are going to provide a Twitter share link;
please make sure title and linkback FITS.

Thanks..

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