Former MGM Grand Casino President, John Anderson, was sentenced to three years of probation and a $50,000 fine on Wednesday for his role in a money laundering scheme that involved high rollers at the casino.
Anderson, who served as President of the MGM Grand Casino from 2015 to 2018, was charged with participating in a scheme in which high rollers would exchange large sums of money for casino chips, allowing them to avoid reporting requirements for cash transactions over $10,000. The scheme, which spanned from 2016 to 2018, allowed the high rollers to gamble with the unreported funds and then cash out their winnings without detection by federal authorities.
Prosecutors allege that Anderson was aware of the scheme and actively worked to facilitate it by instructing casino employees to accept large amounts of cash from high rollers without reporting it to federal authorities. In exchange for his cooperation, Anderson received kickbacks from the high rollers in the form of cash and casino vouchers.
During the sentencing hearing, U.S. District Judge Sarah Matthews admonished Anderson for his participation in the scheme, stating that his actions showed a blatant disregard for federal reporting requirements and the integrity of the casino industry. Judge Matthews also noted that Anderson’s actions had tarnished the reputation of the MGM Grand Casino and the gaming industry as a whole.
In his defense, Anderson’s attorney argued that his client had made a mistake in judgment and was remorseful for his actions. He noted that Anderson had cooperated with federal authorities in their investigation and had agreed to plead guilty to the charges in exchange for a reduced sentence.
Despite Anderson’s remorse and cooperation, Judge Matthews handed down the three-year probation sentence and $50,000 fine, stating that it was necessary to send a message to others in the gaming industry that money laundering and circumventing federal reporting requirements would not be tolerated.
Following the sentencing, a spokesperson for the MGM Grand Casino issued a statement expressing disappointment in Anderson’s actions and reaffirming the casino’s commitment to upholding the highest standards of integrity and compliance with federal regulations. The spokesperson also stated that the casino had implemented new policies and procedures to prevent similar incidents from occurring in the future.
As Anderson left the courtroom, he declined to comment on the sentencing but appeared remorseful for his actions. It remains to be seen what impact his conviction will have on his future in the gaming industry and whether he will be able to make amends for his role in the money laundering scheme.
