Former Sands China CEO files latest claim

TAGs: Las Vegas Sands, sands china, Steve Jacobs

Sands China former CEO accusationsThe former CEO of Sands China is filing new papers against the company that dismissed him some time back. Steve Jacobs has served Las Vegas Sands Corp. (LVS) and their chairman Sheldon Adelson with the papers that claim wrongful dismissal and defamation. reports that Adelson made the defamatory comments to the Wall Street Journal. The chairman of LVS was quoted as saying that Jacobs was “using outright lies and fabrications” to explain his dismissal. Jacobs’ lawyers make a case that the remarks are “malicious” and “purposefully intended to harm Mr Jacobs’ reputation and good name.”

Jacobs’ lawyers also denied claims by a Sands China attorney that he lied about sending a sizable amount of cash by courier to the US. A memo from Sands’ collection manager David Law discussed sending a $4.8m company check by courier to Las Vegas. Mr Law explained that if he was to fly and collect the money himself, “I need to declare the reasons I am in the U.S., which would be more risky.”

The papers also make light of a claim that Adelson tried to influence Reuters. It stemmed from a story they published about the company and its relationship with an alleged triad member.

These are the latest counter punches to come from Jacobs and come almost a month after LVS accused the former Sands China CEO of extortion. Remember though; the Hong Kong regulators saw enough in Jacobs’ accusations to investigate Sands China so there must be something behind his allegations. Don’t expect the court case anytime that soon though. At the last estimate, it was June 2012 and that’s if LVS fails to put a deal on the table.


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