Sheldon Adelson's Casinos Being Investigated For Money Laundering

The feds are investigating whether Sheldon Adelson's multibillion-dollar Las Vegas Sands Corp. violated money-laundering laws by failing to alert authorities when a pair of questionable high rollers transfered massive sums to its casinos, the Wall Street Journal reports.

According to the paper's sources, the U.S. attorney office's probe extends to handful of senior executives but does not appear to include Adelson himself. The probe is believed to have begun last year, and any charges likely won't come for several more months, possibly not until after the November election.

Nonetheless, given Adelson's outsized role in GOP politics this campaign season, the WSJ notes that the timing of the investigation "could open up the Justice Department to criticism that it is a politically motivated effort to discredit a major supporter of President Obama's opponent."

The first transfer in question in the current probe reportedly came from a Chinese-born Mexican businessman who was later indicted for drug trafficking. The second was made by a former California businessman later convicted of taking illegal kickbacks from vendors.

You can read the full WSJ report on the investigation and what it may mean for the gambling industry here.