Chinese property developer Shenzhen New World has been fined $400 million.This is a fine for bribing Los Angeles City Councilman Jose Huizar to get favorable treatment in building a skyscraper in downtown Los Angeles.
The company's billionaire Wei Fang showered Heuser with casino chips on a luxury trip to Las Vegas. Huang is wanted by the United States on fraud and bribery charges and is considered a fugitive.
As prosecutors demanded, U.S. District Judge John Walter on Friday slapped the maximum penalty against Juan's company.The judge also ordered the company to open its books for government review, adopt a code of ethics, and post its convictions on its website. At the time of writing, this action has yet to be taken.
“This five-year bribery plan was boldly devised and impassionedly executed by Chairman Huang, the sole owner and supreme authority of the company, with the help of his employees and associates acting under his direction. did," the prosecution wrote.
Mr. Hauser admits to being a central figure in a large facilitation scheme at City Hall.The plan would have extorted at least $150 million from Huang and other developers.He pleaded guilty to extortion conspiracy and tax evasion charges in January and is awaiting sentencing.
Pay to play
Mr. Huizar served as chairman of the Los Angeles Planning and Land Use Management Commission, which holds life and death powers over major construction projects in the city.He was also a member of Congress for the 14th District, which includes the Downtown District.
Shenzhen World owns the downtown LA Grand Hotel and wanted to decorate it with a 77-story skyscraper complex.It was supposed to be the tallest building on the West Coast, but was derailed when the FBI began investigating the deal.
From 2013 to 2018, Wei told Huizar that he had "cash, casino gambling chips, flights on private jets and commercial airlines, stays in luxury hotels and casinos in Las Vegas, expensive meals, spa services, prostitution services, (and) “Political donations,” court documents say.
political exposure
During a visit to Palazzo Las Vegas, staff recognized Huizar as a prominent Los Angeles politician and flagged him as a "Political Exposed Person" (PEP).I also found myself playing and cashing in the tens of thousands of chips Wei provided.
Anti-money laundering regulations require operators to conduct more scrutiny on PEPs.This is because they are more likely to engage in bribery and corruption, increasing the likelihood that any money brought into the casino has been laundered.
Huizar was kicked out of the premises after refusing to sign a document declaring that he had an independent source of wealth and was gambling with his own money.Casino staff then contacted the FBI.
Huang's private jet departed the United States shortly thereafter and was deceased.
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