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The Securities and Exchange Commission on Wednesday charged five former real estate executives who allegedly defrauded investors into believing they were funding development of five-star destination resorts in Las Vegas and Florida.
Personal and business ties that date back more than a decade between Steve Wynn and Japanese gaming magnate Kazuo Okada could come to hurt the lawsuit brought by Wynn Resorts Ltd. to validate the forced redemption of Okada’s stake in February.