Wynn Casino Fined $130 Million for Money Laundering Scheme Involving Chinese High Rollers and Mexican Cartels

The Chinese government banned citizens from taking more than $50,000 out of the country annually in 2016. This move significantly impacted the ability of Chinese high rollers to gamble large sums abroad, including in Las Vegas casinos like Wynn.

The Wynn casino in Las Vegas was involved in money laundering schemes with Chinese high rollers and Mexican drug cartels. The scheme involved 'underground bankers' who facilitated large cash transactions between the casino and high rollers. These 'underground bankers' were Chinese citizens aged between 30 and 40.

The money laundering scheme was uncovered by investigators who noticed frequent phone calls between the 'bankers' and casino managers. The money was sourced from criminal activities including prostitution, human trafficking, and drug sales. The Wynn casino was fined $130 million for facilitating the money laundering scheme.