Australian casino operator The Star has been served with yet another class action lawsuit, the second just this week, over alleged ‘misleading representations’ and a lack of disclosure ‘about its systems and processes for compliance with anti-money laundering and counter-terrorism financing obligations’.
This is the fourth such class action lawsuit, with the most recent announced on Monday, following two similar claims filed in March and November of last year.
The claim furthers that The Star had not announced information regarding ‘conduct relating to junkets, Star’s Accounts with the Bank of China Macau, and China Union Pay transitions’.
The Star became the focus of anti-money laundering investigations by both the state regulators and Australia’s financial crimes watchdog, AUSTRAC, being found unsuitable to continue to operate its Australian casinos.
They have since been placed under the management of an independent appointee, and the company has been ordered to pay a near-$68 million fee by Queensland authorities regarding its Treasury Brisbane and Star Gold Coast casino operations.
An additional $68 million fine was issued for its Sydney property and an ongoing investigation by AUSTRAC could result in further penalties for the group.
