Title: The Expanding Landscape of AML Investigations in Nevada’s Casino Scene
In recent months, the frequency of anti-money laundering (AML) investigations in Nevada has reached a point where state regulators themselves are struggling to keep up with the unfolding events. The latest development centers on the Fontainebleau Las Vegas, which has inadvertently become a focal point in these ongoing inquiries.
This high-profile resort, owned by Jeffrey Soffer and Koch Real Estate Investments, has faced significant challenges since its inception, ultimately costing nearly $3.7 billion and finally opening its doors in December 2023. During a recent Nevada Gaming Commission meeting, an unexpected mention of an AML probe regarding credit approvals for the Fontainebleau surfaced, stemming from discussions about Maurice Wooden’s gaming license—a position he assumed in January 2024.
At the meeting, Commissioner Rosa Solis-Rainey inquired about the current issues related to credit issuance at Fontainebleau. Wooden’s response, which seemed to downplay awareness of any AML investigation, triggered a notable exchange among the officials. Confidentiality surrounds many aspects of such investigations, leading to a swift request from NGCB Chair Kirk Hendrick to halt any further discussion, emphasizing the need for a careful review before proceeding.
The NGCB, which conducts inquiries and advises the commission, has not yet commented publicly on the specifics of the Fontainebleau investigation. Still, its complexity is apparent as Wooden’s license was approved on a temporary basis while investigations continue—a contrast to the NGCB’s expectation of an unrestricted license.
Connections to LeForbes
Though concrete details remain scarce, discussions during the hearings revealed troubling instances where Fontainebleau’s management allegedly overrode credit denials from its staff, raising red flags among regulators. Five player accounts were under scrutiny, with issues flagged regarding three.
Notably, a reported $2 million marker was issued to Damien LeForbes, a figure already entangled in other AML probes related to notable Vegas establishments, including MGM Resorts and Resorts World. His connections to other bookmakers, like Matt Bowyer, add layers of intrigue to the unfolding narrative.
Professional gambler RJ Cipriani, known for exposing various illegal activities, claimed last year that LeForbes utilized winnings from this credit to settle debts before ultimately exceeding the agreed marker amount. The ripple effect of these actions seems to put a spotlight on all casinos associated with LeForbes.
A Web of Familiarity in the Industry
This series of investigations paints a portrait of an industry where connections run deep. Many players involved—both casino executives and alleged offenders—have crossed paths in prior controversies. For instance, Wooden, before stepping into his role at Fontainebleau, held a similar position at Wynn Las Vegas, which recently faced a hefty $5.5 million fine for its own AML violations. This alignment raises questions about persistent underlying issues in Las Vegas’s expansive gambling landscape.
During the licensing discussion, Wooden asserted the critical nature of AML as a topic within the casino’s leadership, highlighting the need for rigorous compliance in an environment increasingly scrutinized for its financial practices.
As these investigations unfold, it remains to be seen how they will reshape not only the Fontainebleau but also the broader context of regulatory practices and corporate accountability across Nevada’s gambling sector.