Gingrich's billionaire campaign backer under federal investigation after lawsuit alleges he hushed possible ties to Chinese organized crime



Sheldon Adelson is the founder and CEO of Las Vegas Sands Corp., which owns the Sands Macau in China

Adelson has given $10 million to bolster Gingrich's campaign and has promised up to $10 million more

The Department of Justice and SEC are investigating whether Las Vegas Sands violated federal bribery laws

Adelson has denied any wrongdoing

The billionaire casino mogul who has breathed new life into Newt Gingrich's presidential campaign with millions of dollars in donations is facing a federal investigation over whether his company violated the Foreign Corrupt Practices Act, which prohibits bribing foreign officials.



The investigation stems from a lawsuit filed by a former executive at the Sands Macau in China, the company has said. Steven C. Jacobs claims he was told the keep quiet about investigations of local officials and the possible presence of the triads - Chinese organized crime - in the casino.

Sheldon Adelson, who founded and runs Las Vegas Sands Corp -- one of the largest casino and resort companies in the world, has denied the allegations in the lawsuit and said the company is cooperating with federal investigators.



Big supporter: Sheldon Adelson (left) has propped up Newt Gingrich's campaign with $10 million in donations to the former House Speaker's super PAC



Adelson has donated an estimated $10 million to Gingrich's super PAC 'Winning our Future' and promised to give up to $20 million.



Worth an estimated $21 billion, Adelson is the eighth richest man in America and has almost single-handedly financed Gingrich's second campaign surge.

The large donation has allowed Gingrich supporters to buy TV ads in key states, helping the former House Speaker to defeat Mitt Romney in the South Carolina Republican primary.



But the attention has brought Adelson's business practices into the spotlight. The lawsuit was filed in October 2010 and the company announced the federal inquiry in March of last year.

Allegations: The former head of the Sands Macau casino (pictured) filed a lawsuit against Adelson's company after he was fired

Adelson addressed the concerns at a public forum last year saying the investigation is 'not a serious matter.'

'When the smoke clears, I am 1,000 percent positive that there won't be any fire below it,' he said, according to ABC News.

The Securities and Exchange Commission and the Department of Justice began looking into Las Vegas Sands Corp. as a result of allegations about its practices at Sands Macau casino and hotel, which operates on the Chinese island that has become the largest gambling mecca in the world, the Las Vegas Sun reported.



Jacobs, who ran the resort, says in his lawsuit that he was wrongly fired from the company after he objected to allegedly illegal actions that he was asked to perform.



Among them: Jacobs claims Adelson wanted him to hire a Chinese lawyer to dig up 'negative information' on local Macau officials that the company could use as leverage, the Sun reported.



Lit up: Adelson's best-known property is the Venetian Resort Hotel and Casino on the Las Vegas strip

Jacobs says he also disagreed with Adelson over increasing the casino's use of junkets -- trips to Macau by groups of high-rolling gamblers organized by third-party groups.

Some junkets in Macau have been organized by members of Chinese organized crime syndicates.

Reuters reported in 2010 that alleged triad crime boss Cheung Chi-tai, who was connected with a junket to the Sands Macau, was running one of the VIP rooms at the casino, according to witnesses.



That information came out at a trial of four men convicted of breaking a Sands dealer's arms and legs, allegedly on Chi-tai's orders, according to Reuters.



In his lawsuit, Jacobs says Adelson ordered him to keep Chi-tai's name and any information about possible triad involvement secret from the casino's board of directors.

