Resorts World Las Vegas Compliance Director Claims Termination After Reporting Illegal Credit Network
A former compliance director at Resorts World Las Vegas, Preston Banks, has filed a federal lawsuit alleging he was fired shortly after reporting an illegal international patron network involving up to $13 million in unpaid casino credit. The report identified suspicious activities among patrons from multiple countries and unverified sources of funds. According to the complaint, Resorts World barred 28 individuals linked to this group but allegedly downplayed concerns before taking action. Banks previously worked at the U.S. Treasury Department's Financial Crimes Enforcement Network for 16 years. His responsibilities included identifying suspicious activity and supporting anti-money laundering controls. The casino denies the allegations in the lawsuit, calling it frivolous. Internal records cited in the complaint suggest several red flags such as unverified funds, suspected credit fraud, coordinated wagering patterns, chip passing, minimal gambling, offsetting bets, and third-party marker payments totaling $2.06 million. The case highlights potential lapses in compliance at a major casino operator during an investigation into possible money laundering activities. Resorts World reportedly filed over 50 suspicious activity reports related to the group by September 2024.
Topics: casino compliance employee termination legal dispute money laundering