Wynn Resorts faces lawsuit over alleged failure to investigate gambler’s funds

The lawsuit claims that former decathlete David Bunevacz lost approximately $3.8m at Wynn Las Vegas, with some of the money allegedly coming from personal and corporate loans.

Wynn Resorts is facing a lawsuit filed by Canadian mining company James Bay Resources and its President, Stephen Shefsky, alleging negligence and unjust enrichment.

The lawsuit, filed in Ontario, claims that former decathlete David Bunevacz lost approximately $3.8m at Wynn Las Vegas between January 2018 and June 2019, with some of the money allegedly coming from personal and corporate loans made by Shefsky and his company.

The plaintiffs assert that Bunevacz, who was on probation at the time, gambled funds from loans provided to his companies, CB Holdings Group and Brutus California Ventures.

The loans, totalling $4.6m, were intended for business purposes. However, Bunevacz allegedly diverted the funds for personal gambling, which the lawsuit claims Wynn Resorts failed to detect or report in compliance with federal regulations that require casinos to flag suspicious transactions over $10,000.

Good to know: Federal regulations require casinos to file suspicious activity reports for transactions exceeding $10,000

The complaint also notes that Wynn neglected to investigate Bunevacz’s criminal background, which included tax liens and civil lawsuits, or his status as a ‘problem gambler.’

The plaintiffs argue that had Wynn followed its legal obligations, it would have discovered reasonable suspicions about the source of Bunevacz’s funds.

Bunevacz was sentenced to 17 1/2 years in prison in 2022 for defrauding investors of over $45m.

The plaintiffs argue that Wynn failed to make necessary inquiries and “willingly and blindly engaged in transactions” with Bunevacz. They also claim that Wynn should have recognized Bunevacz as a problem gambler and limited his gambling activities.

James Bay Resources and Shefsky are seeking damages for negligence, consequential damages and interest. Wynn Resorts has not commented on the lawsuit at this time.

David Thompson

Editor

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