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Thread: Inside the Investigation of Leading Republican Money Man Sheldon Adelson

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    Inside the Investigation of Leading Republican Money Man Sheldon Adelson

    This is an interesting story with potential reverberations reaching into the 2012 elections....

    By way of Background, Sheldon Adelson is head of Las Vegas Sands, a company that very nearly went bankrupt during the Bush years as a result of the Great Recession. In contrast, Mr. Adelson has made tens of billions of dollars during the Obama years, with his company's stock soaring more than 8000% from it's Bush-years lows. Nevertheless, Mr. Adelson has emerged as one of, if not THE biggest Republican donors. He essentially bankrolled Gingrich's entire campaign, he has contributed millions to Romney, and he has said that he may contribute $100 million or more to Republicans in this election cycle.

    As it happens, Mr. Adelson's fortunes turned around as a result of a huge bet he made on gambling in the Chinese island of Macau. Investigators are now looking into whether that fortune was obtained as a result of bribing Macau officials in violation of the Foreign Corrupt Practices Act....

    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.

    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" [2] 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 [3]. There is no evidence the offer was accepted. Both issues remain unresolved.

    Inside the Investigation of Leading Republican Money Man Sheldon Adelson - ProPublica
    Is Mr. Adelson bribing Republican politicians in hopes of avoiding prosecution for bribing Chinese officials? Even if the two are unrelated, will Republicans refuse his millions, tainted as they may be with corruption and ties to the Chinese mob?
    Last edited by AdamT; 07-18-12 at 01:23 AM.
    "The necessaries of life occasion the great expense of the poor. They find it difficult to get food, and the greater part of their little revenue is spent in getting it. The luxuries and vanities of life occasion the principal expense of the rich, and a magnificent house embellishes and sets off to the best advantage all the other luxuries and vanities which they possess. ... It is not very unreasonable that the rich should contribute to the public expense, not only in proportion to their revenue, but something more than in that proportion."

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    Re: Inside the Investigation of Leading Republican Money Man Sheldon Adelson

    Why are you picking on one of the job creators?
    Under Capitalism man exploits man; under Communism it's vice versa. -John Kenneth Galbraith
    I have always considered it as treason against the great republic of human nature, to make any man's virtues the means of deceiving him. -Samuel Johnson

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    Re: Inside the Investigation of Leading Republican Money Man Sheldon Adelson

    Dunno Adam, are the dems still accepting Soros money?

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    Re: Inside the Investigation of Leading Republican Money Man Sheldon Adelson

    Quote Originally Posted by clownboy View Post
    Dunno Adam, are the dems still accepting Soros money?
    Are the Clintons still accepting Chinese money?

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    Re: Inside the Investigation of Leading Republican Money Man Sheldon Adelson

    Quote Originally Posted by clownboy View Post
    Dunno Adam, are the dems still accepting Soros money?
    Post #3, let's change the subject and derail the thread.

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    Re: Inside the Investigation of Leading Republican Money Man Sheldon Adelson

    Quote Originally Posted by cpwill View Post
    Are the Clintons still accepting Chinese money?
    #4 further derail the thread.


    Do you guys ever comment on the topic?

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    Re: Inside the Investigation of Leading Republican Money Man Sheldon Adelson

    does living in that glass has mean you have a massive Windex bill?

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