Crown money laundering suspected as recently as February

The criminal infiltration of Crown Resorts is likely greater than previously thought, with evidence of suspected criminals washing dirty money in its bank accounts as recently as February.

Victoria’s royal commission into the James Packer-backed casino giant heard on Monday that suspected money laundering had been identified in 14 new bank accounts that were not examined in last year’s damning Bergin Inquiry.

But commissioner Ray Finkelstein, QC, will have to decide on Crown’s suitability to hold its Melbourne casino licence without knowing the full extent of its money laundering problems, the inquiry was told, because the group did not commence a full review until February this year.

“Had Crown started that review any earlier than February this year, the results would be known to this commission,” counsel assisting Meg O’Sullivan said.

She added that Crown failed to launch a review earlier despite there being “red flags” about money laundering in its accounts dating back to 2014.

Last year’s Bergin inquiry in NSW found Crown was unfit to run its new Sydney casino, with a key reason being that it facilitated money laundering through two patron deposit bank accounts.

Money laundering in these accounts – held through shell companies called Southbank Investments and Riverbank Investments – where revealed in an investigation by this masthead in mid-2019.

Ms O’Sullivan said the review currently underway by Deloitte into Crown’s other accounts would reveal if the Southbank and Riverbank accounts were “just the tip of the iceberg”.

“Deloitte’s preliminary analysis suggests that of those 45 bank accounts, there are 14 Crown bank accounts with evidence of money laundering,” she said, with some instances happening in February this year. “It appears that Crown does not yet know the full extent of that problem, save that it’s likely greater than previously thought.”