Even after evidence emerged of money laundering by people connected with Suncity, Crown failed to shut down the junket operator\u2019s private VIP room at the Crown Melbourne.<\/p>\n<\/div>\n
Wasn\u2019t all this a \u201cquintessential example of Crown Resorts turning a blind eye to the prospects of money laundering occurring at its casino?\u201d Sharp demanded to know.<\/p>\n
It may have been ineptitude or a lack of attention. I don\u2019t think it was deliberately turning a blind eye. I do think that\u2019s a different adjectival conclusion,\u201d replied Coonan, as reported by The Guardian.<\/em><\/p><\/blockquote>\nEveryone Loses <\/strong><\/h2>\nPatricia Bergin, the former Supreme Court judge chairing the inquiry, said ineptitude wasn\u2019t good enough.<\/p>\n
\u201cThe community loses because you\u2019ve got money laundering in your casino \u2026 and Crown loses because it\u2019s seen as an inept company lacking in attention,\u201d she said. \u201cAnd the bystander could reasonably conclude that this conglomerate of ineptitude, lack of attention, and failing to intervene facilitated money laundering. Would you not agree with that?\u201d<\/p>\n
Coonan said yes.<\/p>\n
Crown holds its annual general meeting on Thursday, and the Australian Council of Superannuation Investors (ACSI), an organization that advises the nation\u2019s largest pension funds, has advised shareholders vote out three directors whose positions are up for renewal.<\/p>\n
ACSI accuses the board of bad corporate governance and believes a shakeup is much needed.<\/p>\n","protected":false},"excerpt":{"rendered":"
Crown Resorts chair Helen Coonan told a licensing suitability investigation in Sydney on Tuesday that she accepted her company had facilitated money laundering. But she blamed it on \u201cineptitude\u201d rather than criminal intent. The New South Wales Independent Liquor and Gaming Authority has been examining whether the Australian casino giant should retain its Sydney license. […]<\/p>\n","protected":false},"author":36,"featured_media":152653,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[13592],"tags":[],"acf":[],"yoast_head":"\n
Crown Resorts Chair Admits AML Breaches, Claims \u2018Incompetence\u2019<\/title>\n\n\n\n\n\n\n\n\n\n\n\n\n\t\n\t\n\t\n\n\n\n\n\n\t\n\t\n\t\n