Star’s lawyers say it wasn’t suitable for licence, but it is now | lucycormack
Over eight weeks it heard evidence from senior executives and directors, who were tested on allegations of misleading conduct, a failure to manage anti-money laundering risks and turning a blind eye to criminal links of VIP junkets.gambling transactions as hotel expenses and then lied to banks to conceal the massive fraud.
On behalf of The Star, Richardson on Monday said the evidence showed that behaviour and culture within the ranks of senior management “fell well short of what is to be expected” until recently.“The board has responded to the disclosure of these issues ... and this is more than just a matter of words,” she said. “The key persons who were the focus of, or failed to stop the misconduct, are no longer with [The Star].
“It sends a powerful message to all employees at the company as to what the board will and will not countenance,” Richardson said. “The departures set the standard of behaviour expected of all The Star’s people ... in particular its most senior people.” Richardson said The Star accepted that evidence to the review suggested “significant deficiencies and failings” of behaviour that did not adhere to the company’s code of conduct and risk and compliance policies.Sharp last month argued the casino group was “only at the beginning of its journey about what has gone wrong” within its organisations, and that a period of deep reflection was yet to take place.
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