Scott Sibella. Source: Facts.net

Former MGM Executive Sibella Fined $9.5 Thousand in Money Laundering Case

Scott Sibella, the former head of a division within the MGM operator, has been sentenced to a year of probation and fined $9.5 thousand after being found guilty of failing to file a suspicious activity report while working at the MGM Grand.

During his court appearance, Sibella expressed remorse to the court, his family, and the entire casino industry, acknowledging the impact of his actions. He pledged to never engage in such behavior again, emphasizing the disruption it had caused to his life.

The sentence was notably lenient considering the severity of the offense, with the judge citing Sibella's contributions to the casino industry and lack of prior criminal record as mitigating factors. The maximum penalty for money laundering is five years in prison and a fine of $250 thousand.

Sibella's involvement in allowing the illicit bookmaker Nix to operate within the MGM Grand, facilitating bets exceeding $5 million, was a key factor in the case.

10 May 2024, 11:00

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