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Las Vegas Sands Corp. Message Board

  • southeast.asia@rocketmail.com southeast.asia Mar 14, 2013 7:02 PM Flag

    Cunning and diabolical scheme

    Adelson never helped Edmund Ho ‘keep out of jail’

    Alex Lee | 14/03/2013 | in Politics

    From Macau Business Daily

    Suggestion part of ‘cunning and diabolical scheme’ by sacked Sands boss Steve Jacobs says court filing

    A court deposition by former Sands China Ltd chief executive Steve Jacobs said to have suggested Sheldon Adelson wanted credit for keeping Macau’s first chief executive Edmund Ho Hau Wah “out of jail” was part of a “cunning and diabolical scheme to use the court system of Nevada to shield his [Jacobs’] campaign of defamation” states a legal filing from Mr Adelson.

    A seven-page deposition from the LVS chairman filed last Friday in Nevada and seen by Business Daily seeks to rebut a reported court filing on February 15 by Mr Jacobs but only recently publicised.

    The February 15 filing claimed Mr Jacobs had been asked by Mr Adelson to make a “threat” against Edmund Ho. The reported context was that Mr Adelson had become “enraged” at decisions made by Mr Ho in relation to LVS’s wished-for sale of apartments at the Four Seasons Macao, a company property on Cotai.

    According to Mr Jacobs’ filing as reported by the Wall Street Journal, he says he was ordered by Mr Adelson to remind Mr Ho that "Adelson had settled a lawsuit paying [US]$40 million" to help Mr Ho "and that he [Ho] owed Adelson."

    Mr Jacobs said he refused to carry out the order, which he considered "improper”.
    The WSJ report didn’t contain a suggestion – stated in Mr Adelson’s March 8 filing – that Mr Jacobs has been told to mention to Mr Ho that the LVS boss had settled the US$40 million suit “in order to keep Mr Ho out of jail”.

    Mr Adelson’s March 8 filing says: “I met Edmond [sic] Ho in 2002 and have come to know him well. I hold him in the highest regard, and I never asked Jacobs to inform Mr Ho that I had settled a lawsuit paying $40 million
    in order to keep Mr Ho out of jail.

    continued

    Sentiment: Strong Buy

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    • southeast.asia@rocketmail.com southeast.asia Mar 14, 2013 7:04 PM Flag

      continued repeating last paragraph

      Mr Adelson’s March 8 filing says: “I met Edmond [sic] Ho in 2002 and have come to know him well. I hold him in the highest regard, and I never asked Jacobs to inform Mr Ho that I had settled a lawsuit paying $40 million in order to keep Mr Ho out of jail.

      “I did not and do not have any information to suggest that Edmond Ho was ever at risk of going to jail. I know of no wrongdoing on Mr Ho’s part and Jacobs’ assertion to the contrary is another example of his willingness to disregard both the truth and the defamation laws.”

      Mr Jacobs first sued LVS – in a Nevada court in October 2010 for wrongful termination after he was sacked that summer. The company says he was dismissed for “cause”.

      Since then the case has attracted huge publicity via court filings from Mr Jacobs that claim a succession of wrongdoings by his former employers. They include the suggestion Mr Adelson asked him to launch investigations into the backgrounds of members of the Macau government and that Mr Adelson had authorised a “prostitution strategy” at his Macau casinos. LVS and Mr Adelson strongly deny those claims.

      E-mail claim

      Mr Jacobs also said in a court filing that an external legal advisor to Sands China, Lionel Alves – a member of Macau’s Executive Council – had sent Mr Jacobs an e-mail mentioning that an unnamed contact in China had offered to help with a business matter in Macau in exchange for US$200 million. The offer was understood to refer to the apartment sales. The allegations about the e-mail led to investigations by the Department of Justice and the Securities and Exchange Commission in the United States over possible breaches of that country’s Foreign Corrupt Practices Act, which prohibits the bribing of overseas officials. There was no suggestion that either Mr Alves, LVS or its employees had solicited the help from the mainland go-between or that any of those people offered to make such a payment to him.

      Continued

      Sentiment: Strong Buy

      • 2 Replies to southeast.asia
      • My one experience with a civil suit took 4 years to settle. But it did settle a couple of months after the depositions. Lets hope it is getting close.

      • southeast.asia@rocketmail.com southeast.asia Mar 14, 2013 7:05 PM Flag

        Continued repeat last paragraph

        Mr Jacobs also said in a court filing that an external legal advisor to Sands China, Lionel Alves – a member of Macau’s Executive Council – had sent Mr Jacobs an e-mail mentioning that an unnamed contact in China had offered to help with a business matter in Macau in exchange for US$200 million. The offer was understood to refer to the apartment sales. The allegations about the e-mail led to investigations by the Department of Justice and the Securities and Exchange Commission in the United States over possible breaches of that country’s Foreign Corrupt Practices Act, which prohibits the bribing of overseas officials. There was no suggestion that either Mr Alves, LVS or its employees had solicited the help from the mainland go-between or that any of those people offered to make such a payment to him.

        Mr Jacobs’ latest filing has brought Edmund Ho directly into the wrongful termination suit. That could potentially be very damaging for LVS’s relations with the Macau and mainland authorities. Mr Ho, Macau’s first chief executive following the handover from Portuguese administration in 1999 – and a vice chairman of China’s National People’s Congress – is widely regarded as being close to China’s leaders. Anything that embarrasses him therefore could potentially also embarrass the national government.

        No comment was available from Mr Ho or from Mr Jacobs’ lawyers at the time Business Daily went to press.

        SEA

        Sentiment: Strong Buy

 
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