SPARKS, Nev. (AP) — The Sparks Nugget has been ordered to pay a $1 million civil fine after the northern Nevada hotel-casino admitted violating federal anti-money laundering regulations.
The U.S. Treasury Department's Financial Crimes Enforcement Network announced the civil penalty Tuesday for the hotel-casino that did business as John Ascuaga's Nugget before it first was sold in 2013.
FinCEN Director Jennifer Shasky Calvery says the Nugget egregiously and willfully violated the Bank Secrecy Act's reporting obligations, anti-money laundering and record-keeping requirements.
Calvery says company officials were aware they hosted convicted embezzlers and had been alerted to suspicious transactions by their own compliance manager.
The Ascuaga family said in a statement Tuesday they understand the seriousness of the violations and the fine, but are satisfied that the matter has been resolved.
Marnell Gaming LCC announced in February it was buying the hotel-casino.
