Crown inquiry begins in NSW as casino group battles shareholder class action
NSW inquiry into Crown Resorts begins as the casino group fights a shareholder class action.Summary
The first of three inquiries into Crown Resorts and its casino business began on Tuesday in Sydney, led by former Supreme Court judge Patricia Bergin. The NSW inquiry will focus on the proposed $1.75bn sale of 20% of Crown to Lawrence Ho's Melco Resorts, and whether this raises issues about probity or breaches of a licence clause preventing Stanley Ho and specified companies from being associates of Crown. It will also examine allegations of money laundering and failures to report cash transactions. Meanwhile, Crown is fighting a shareholder class action to prevent details of convictions in China against 19 former employees from becoming public. Other inquiries by Victorian and federal authorities are on hold pending further investigations.
(Source：Arizona Herald)