CEO of Crown Resorts, Ken Barton, resigned from his position last week following allegations of money laundering and other misconduct, reports Reuters. As head of Australia’s largest casino chain, Barton stepped into the position in January 2020, a mere two months before the report by a New South Wales state gambling watchdog came to light.
The report claims that under Barton’s direction, as well as a few other key figures, Crown Resorts was “facilitating money laundering, exposing staff to the risk of detention in a foreign jurisdiction, and pursuing commercial relationships with individuals with connections to Triads and organized crime groups.”
Five other Crown Resorts executives have also parted ways with the company following the report including Michael Johnston and Guy Jalland, who represented Crown’s biggest shareholder, billionaire James Packer, on the board. Helen Coonan, who currently acts as chair of the board, will replace Barton until a new CEO is appointed.
Despite his highly-publicized departure, Barton is said to be receiving an AU$3m ($2.3 million USD) payout from Crown Resorts, according to The Guardian. With cases that present such high monetary and reputational stakes on an international scale, it is imperative to work with a legal team that specializes in defending money laundering issues. To schedule a confidential consultation, call us at (888) 574-5155.