Star Entertainment may be on the brink of bankruptcy after being fined $260 million – above the amount it claimed it could afford to pay – after being found to have allowed widespread money laundering to flow through its casinos.
Federal Court judge Cameron Moore said Star’s proposed penalty of $100 million was too low, and financial crimes wachdog AUSTRAC’s call for $400 million too high, although his decision on the amount erred slightly closer to AUSTRAC’s assessment.
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