Monday, June 27, 2022

Tinian Dynasty agrees money laundering accord with U.S.


Tinian Dynasty Hotel and Casino has agreed to forfeit $3.04 million as part of a non-prosecution accord with the U.S. Justice Department to settle claims related to allegations of money laundering, the Wall Street Journal reports.

It was the largest forfeiture ever collected by the U.S. in the Northern Mariana Islands, the report said.

Last month, the U.S. Treasury’s Financial Crimes Enforcement Network, or FinCEN, levied a $75 million civil fine on the casino operator for what the agency called “willful and egregious” violations of anti-money-laundering rules uncovered by Internal Revenue Service investigators.

A special agent from the IRS Criminal Investigation unit found that, from 2009 to 2013, the casino failed to file more than 3,600 required reports for currency transactions over $10,000, the total value of which was around $138 million, according to court documents, cited by the WSJ.

 

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