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A judge has approved a $450 million penalty put forward by Crown Resorts and AUSTRAC despite reservations about evidence going to the casino operator’s financial position.
The judge asked to approve a proposed $450 million penalty in AUSTRAC’s case against Crown Resorts has questioned whether the practice of regulators settling enforcement action ahead of trial gave rise to a "moral hazard” problem.
A proposed interest-free payment plan for a $450 million penalty agreed to between Crown Resorts and AUSTRAC has been questioned by a judge, who said it would have “the Commonwealth of Australia act as the Crown’s banker” for two years.
The Victorian government has elevated an Associate Justice who has overseen class actions and a senior counsel who assisted the Victorian royal commission into Crown Resorts to serve as judges on the Supreme Court of Victoria.
Victoria's gambling regulator has slapped Crown Melbourne with a $20 million penalty for failing to pay proper casino tax.
Racing NSW has won access to documents that concern an alleged plan by its Victorian counterpart to exclude it from the thoroughbred racing industry as part of an alleged anti-competitive agreement with four other states.
Crown Resorts has reached agreement with AUSTRAC to pay a $450 million penalty for the casino operator's serious breaches of the anti-money laundering and counter-terrorism financing laws.
The South Australia gambling commissioner has directed SkyCity Adelaide to appoint an independent expert to review its anti-money laundering and counter-terrorism financing programs after AUSTRAC alleged it allowed $4 billion in suspicious transactions at its casino.
A court will be asked to decide whether the secrecy provisions of NSW gaming legislation prohibits the state's casino regulator from using material produced to the Bergin Inquiry in its case against Hong Kong-based Melco Resorts seeking to recover the expense of running the Bergin Inquiry.
Crown Resorts has reached agreement on a proposed penalty in AUSTRAC's case alleging “widespread and serious non-compliance” with anti-money laundering and counter terrorism financing laws, but the presiding judge says more information is needed for the court to fix a fine.