# RNC finance chair Steve Wynn resigns amid scandal **URL:** \ **Category:** Politics & Elections\ **Created:** [January 27, 2018, 10:24pm UTC](https://boards.straightdope.com/t/rnc-finance-chair-steve-wynn-resigns-amid-scandal/807609 "2018-01-27T22:24:44Z")\ **Posts on this page:** 19\ **Page:** 2
**Author:** ![Snowboarder\_Bo](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/snowboarder_bo/32/229_2.png) [@Snowboarder\_Bo](https://boards.straightdope.com/u/Snowboarder_Bo)\ **Post date:** [February 2, 2018, 4:16pm UTC](https://boards.straightdope.com/t/rnc-finance-chair-steve-wynn-resigns-amid-scandal/807609/21 "2018-02-02T16:16:40Z")
> [@JRDelirious](#): > > To be deemed inimical to the public health, safety, morals, good order and general welfare of discrediting of _Nevada_ and its gambling industry… danggit that IS being a f\*\*\*up! Aye; it is. When I first came out to Las Vegas, I knew I was going to see slot machines in the airport, but when I actually did, I was gobsmacked: it was the most brilliant economic ploy I’d ever seen, and it all hit me in a flash. It was unbelievably successful, and required almost no effort on the part of the slot machine owner. Here is all of Las Vegas’ economy: “Hey pal, how’d you like to double your money?” “Sure; that would be great!” “Okay, well put $20 in my hand, and maybe I’ll hand you $40 back.” “Okay!” \ “Oooh! Nope, sorry, not this time! How about trying again?” “Dang! I almost had it didn’t I? Okay, lemme try again!” \ Repeat until there are no more $20s in guy’s wallet. So yeah, Steve Wynn might have fucked up so big that the state will no longer allow people to hand over huge stacks of cash to him for little or nothing in return. ---
**Author:** ![Johnny\_Ace](https://avatars.discourse-cdn.com/v4/letter/j/6bbea6/32.png) [@Johnny\_Ace](https://boards.straightdope.com/u/Johnny_Ace)\ **Post date:** [February 2, 2018, 6:03pm UTC](https://boards.straightdope.com/t/rnc-finance-chair-steve-wynn-resigns-amid-scandal/807609/22 "2018-02-02T18:03:33Z")
> [@Snowboarder\_Bo](#): > > To prolly no one’s surprise, [Ronna McDaniel now says she isn’t giving the money back unless Steve Wynn is “found guilty”.](https://apnews.com/08422c4722614296b3e97b6d540bfa90/RNC-chair-says-she'll-return-Wynn-money-if-he's-found-guilty)I wonder if she has also issued statements on the propriety of Democratic politicians waiting until some sort of due process has been achieved? > > BTW, I did not know she was Mitt Romney’s niece until just now. The Republicans are going to need every penny this year. Worst case, the RNC can hold on to the money long enough to use it for the midterms and then pay it back later. Sort of like banks making interest off of money during the delay while processing transactions. My bet is that the money won’t ever be given back, though. They’ll find some excuse, or hope that the furor will die down and no one will follow the money. ---
**Author:** ![Snowboarder\_Bo](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/snowboarder_bo/32/229_2.png) [@Snowboarder\_Bo](https://boards.straightdope.com/u/Snowboarder_Bo)\ **Post date:** [February 2, 2018, 6:05pm UTC](https://boards.straightdope.com/t/rnc-finance-chair-steve-wynn-resigns-amid-scandal/807609/23 "2018-02-02T18:05:53Z")
> [@Johnny\_Ace](#): > > My bet is that the money won’t ever be given back, though. They’ll find some excuse, or hope that the furor will die down and no one will follow the money. Do you know what the number one way to solve a problem is? Wait it out and hope it goes away. It is successful more times than you might believe on first glance, and so remains the #1 way that humans solve problems. So yeah, this is my guess as to what will happen as well. ---
**Author:** ![Snowboarder\_Bo](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/snowboarder_bo/32/229_2.png) [@Snowboarder\_Bo](https://boards.straightdope.com/u/Snowboarder_Bo)\ **Post date:** [February 4, 2018, 3:19am UTC](https://boards.straightdope.com/t/rnc-finance-chair-steve-wynn-resigns-amid-scandal/807609/24 "2018-02-04T03:19:04Z")
[Wynn Resorts hired a law firm to investigate](https://apnews.com/72aae861b4cb4be38173879437cbe755/Law-firm-helps-with-sex-misconduct-inquiry-into-Steve-Wynn) > [@](#): > > Wynn Resorts has hired a law firm to help investigate sexual misconduct allegations against casino mogul Steve Wynn, the company’s chairman and CEO. > > A statement by Los Angeles-based law firm O’Melveny & Myers LLP says it will assist the Wynn board’s special committee of independent directors with the inquiry. > > The statement released Friday says investigators will set up a phone and web-based reporting line for current and former Wynn employees to provide information. ---
**Author:** ![PastTense](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/pasttense/32/14550_2.png) [@PastTense](https://boards.straightdope.com/u/PastTense)\ **Post date:** [February 7, 2018, 7:56am UTC](https://boards.straightdope.com/t/rnc-finance-chair-steve-wynn-resigns-amid-scandal/807609/25 "2018-02-07T07:56:23Z")
Steve Wynn has resigned as CEO of Wynn Resorts: > **[Steve Wynn Resigns As Head Of Wynn Resorts Amid Sexual Misconduct Allegations](https://www.npr.org/sections/thetwo-way/2018/02/07/583895338/steve-wynn-resigns-as-head-of-wynn-resorts-amid-sexual-misconduct-allegations)** > > The accusations against the 76-year-old billionaire who owns casinos in Las Vegas and the Chinese territory of Macau were first published last month by The Wall Street Journal. ---
**Author:** ![Snowboarder\_Bo](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/snowboarder_bo/32/229_2.png) [@Snowboarder\_Bo](https://boards.straightdope.com/u/Snowboarder_Bo)\ **Post date:** [February 7, 2018, 2:55pm UTC](https://boards.straightdope.com/t/rnc-finance-chair-steve-wynn-resigns-amid-scandal/807609/26 "2018-02-07T14:55:28Z")
What a fall, eh? ---
**Author:** ![ElvisL1ves](https://avatars.discourse-cdn.com/v4/letter/e/5daacb/32.png) [@ElvisL1ves](https://boards.straightdope.com/u/ElvisL1ves)\ **Post date:** [February 7, 2018, 3:18pm UTC](https://boards.straightdope.com/t/rnc-finance-chair-steve-wynn-resigns-amid-scandal/807609/27 "2018-02-07T15:18:55Z")
Probably had to do it to let the company keep its gaming licenses. ---
**Author:** ![Snowboarder\_Bo](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/snowboarder_bo/32/229_2.png) [@Snowboarder\_Bo](https://boards.straightdope.com/u/Snowboarder_Bo)\ **Post date:** [February 7, 2018, 3:20pm UTC](https://boards.straightdope.com/t/rnc-finance-chair-steve-wynn-resigns-amid-scandal/807609/28 "2018-02-07T15:20:27Z")
Oh, that’s exactly what it was. ---
**Author:** ![ElvisL1ves](https://avatars.discourse-cdn.com/v4/letter/e/5daacb/32.png) [@ElvisL1ves](https://boards.straightdope.com/u/ElvisL1ves)\ **Post date:** [February 7, 2018, 3:53pm UTC](https://boards.straightdope.com/t/rnc-finance-chair-steve-wynn-resigns-amid-scandal/807609/29 "2018-02-07T15:53:16Z")
He’ll still be in charge somehow. ---
**Author:** ![Johnny\_Ace](https://avatars.discourse-cdn.com/v4/letter/j/6bbea6/32.png) [@Johnny\_Ace](https://boards.straightdope.com/u/Johnny_Ace)\ **Post date:** [February 7, 2018, 4:49pm UTC](https://boards.straightdope.com/t/rnc-finance-chair-steve-wynn-resigns-amid-scandal/807609/30 "2018-02-07T16:49:49Z")
> [@ElvisL1ves](#): > > He’ll still be in charge somehow. Food and Beverage Director. ---
**Author:** ![EddyTeddyFreddy](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/eddyteddyfreddy/32/18796_2.png) [@EddyTeddyFreddy](https://boards.straightdope.com/u/EddyTeddyFreddy)\ **Post date:** [February 8, 2018, 4:58am UTC](https://boards.straightdope.com/t/rnc-finance-chair-steve-wynn-resigns-amid-scandal/807609/31 "2018-02-08T04:58:50Z")
> [@ElvisL1ves](#): > > Probably had to do it to let the company keep its gaming licenses. Wynn Resorts is in the middle of building a new casino and hotel complex in Everett, Massachusetts, a suburb adjacent to Boston, and when the news of the accusations broke the state’s political leadership (a number of whom weren’t too keen on that casino anyway) started making noise about whether the state gaming commission should pull its license, leaving a half-built mega-complex and thousands of jobs in limbo, to say nothing of the multimillion-dollar investment already sunk into the project. So, yeh, never mind what else the Wynn company was dealing with, that alone would be a powerful incentive for him to exit. ---
**Author:** ![PastTense](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/pasttense/32/14550_2.png) [@PastTense](https://boards.straightdope.com/u/PastTense)\ **Post date:** [February 8, 2018, 5:05am UTC](https://boards.straightdope.com/t/rnc-finance-chair-steve-wynn-resigns-amid-scandal/807609/32 "2018-02-08T05:05:43Z")
Well surely Dopers agree he shouldn’t starve–and that won’t happen: > [@](#): > > Having served as CEO and chairman of Wynn Resorts since 2002, the billionaire mogul has agreements in place that could force the casino operator to pay him a sum of money hefty enough to sustain the economy of an island nation. Steve Wynn, whose net worth is already estimated at $3.4 billion, may collect more than an additional $330 million for stepping down—even though he did so under fire of sexual harassment accusations. > **[Steve Wynn Could Resign With a $300 Million Bonus](https://fortune.com/2018/02/07/steve-wynn-resigns-net-worth/?xid=gn_editorspicks&google_editors_picks=true)** > > After the billionaire mogul was accused of sexual misconduct. ---
**Author:** ![Snowboarder\_Bo](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/snowboarder_bo/32/229_2.png) [@Snowboarder\_Bo](https://boards.straightdope.com/u/Snowboarder_Bo)\ **Post date:** [February 27, 2018, 4:28am UTC](https://boards.straightdope.com/t/rnc-finance-chair-steve-wynn-resigns-amid-scandal/807609/33 "2018-02-27T04:28:02Z")
[He may yet starve](https://apnews.com/c6f1511b6b014e5dba3d9264b8b0c203/NY-pension-leader-sues-Wynn-Resorts'-board-after-sex-claims): > [@](#): > > The board of directors of Las Vegas-based Wynn Resorts is facing mounting lawsuits from shareholders who allege they breached their fiduciary duties when they ignored what has been described as a longstanding pattern of sexual abuse and harassment by the company’s founder, Steve Wynn. > > The latest known “derivative lawsuit” filed in state court in Las Vegas against the board and the billionaire was announced Monday by the official in charge of the nation’s third largest public pension fund, the New York State Common Retirement Fund. > > At least four other shareholder groups have filed lawsuits stemming from sexual misconduct allegations leveled against Wynn in a news report last month. Derivative lawsuits allow shareholders to take legal action on behalf of a company when they believe its officers or directors are not meeting their fiduciary duties. > [@](#): > > “These board directors and officers were duty-bound to protect employees and the company, yet they failed to confront allegations of predatory behavior,” Thomas DiNapoli, the New York state comptroller and trustee of that state’s retirement fund, said in a statement. “We are asking the court to hold accountable the company officers and directors who allowed this behavior to go unchecked.” > [@](#): > > The lawsuit filed by DiNapoli argues that the Wynn Resorts’ share price plummeted after the sexual misconduct allegations became public Jan. 26, closing down 10 percent that day and wiping out $2 billion of market capitalization. > > “The stock is now trading at about $164.00, a sustained investor loss of 17%, amid continuing controversy with the Board’s inadequate investigation and years of inaction,” according to the lawsuit filed Thursday. Shares ended Monday at $169. …and my favorite part: > [@](#): > > **If the lawsuits are successful, Wynn and the company’s board members could be ordered to pay monetary damages to Wynn Resorts** , said Shannon McNulty, an attorney with Clifford Law Offices in Chicago. > > “So the shareholders receive the relief as a consequence of the corporation receiving that relief,” she said. Let’s go to the quarry and throw stuff down there! ---
**Author:** ![D\_Anconia](https://avatars.discourse-cdn.com/v4/letter/d/67e7ee/32.png) [@D\_Anconia](https://boards.straightdope.com/u/D_Anconia)\ **Post date:** [February 27, 2018, 5:25am UTC](https://boards.straightdope.com/t/rnc-finance-chair-steve-wynn-resigns-amid-scandal/807609/34 "2018-02-27T05:25:24Z")
The Clifford Law Offices are a personal injury firm. Do they have any experience with corporate/shareholder law? ---
**Author:** ![Snowboarder\_Bo](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/snowboarder_bo/32/229_2.png) [@Snowboarder\_Bo](https://boards.straightdope.com/u/Snowboarder_Bo)\ **Post date:** [February 27, 2018, 5:31am UTC](https://boards.straightdope.com/t/rnc-finance-chair-steve-wynn-resigns-amid-scandal/807609/35 "2018-02-27T05:31:47Z")
> [@D\_Anconia](#): > > The Clifford Law Offices are a personal injury firm. Do they have any experience with corporate/shareholder law? You have more information on them than anyone here, including the article I linked. Why don’t you find a cite and show us what experience they have with corporate/shareholder law? ---
**Author:** ![D\_Anconia](https://avatars.discourse-cdn.com/v4/letter/d/67e7ee/32.png) [@D\_Anconia](https://boards.straightdope.com/u/D_Anconia)\ **Post date:** [February 27, 2018, 6:40am UTC](https://boards.straightdope.com/t/rnc-finance-chair-steve-wynn-resigns-amid-scandal/807609/36 "2018-02-27T06:40:32Z")
> [@Snowboarder\_Bo](#): > > You have more information on them than anyone here, including the article I linked. Why don’t you find a cite and show us what experience they have with corporate/shareholder law? Apparently none. > **[Injury Overview](https://www.cliffordlaw.com/injury-overview/)** > > Clifford Law Offices can provide information on whether to pursue an action in court. Speak with our legal team today at (312) 899-9090. Their areas of practice, according to their own website, are Auto accidents, Aviation accidents, Consumer litigation, Construction accidents, Dangerous Property and Products, Explosions and Fires, Medical Malpractice, Sexual Harassment/Workplace Discrimination, and Transportation accidents. ---
**Author:** ![EddyTeddyFreddy](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/eddyteddyfreddy/32/18796_2.png) [@EddyTeddyFreddy](https://boards.straightdope.com/u/EddyTeddyFreddy)\ **Post date:** [February 27, 2018, 6:41am UTC](https://boards.straightdope.com/t/rnc-finance-chair-steve-wynn-resigns-amid-scandal/807609/37 "2018-02-27T06:41:40Z")
[Website of Clifford Law Offices.](http://www.cliffordlaw.com/) Looking over the listed practice areas, I don’t see any thing to indicate they have expertise in shareholder litigation, and they’re a plaintiff firm, not defense counsel, in the types of litigation they pursue. [Here’s the firm’s profile](http://www.cliffordlaw.com/Attorneys/Shannon-M-Mcnulty.shtml) for Shannon McNulty, quoted in the article. But it wasn’t clear from the article whom, if anyone in this litigation, the Clifford firm represents, or whether Ms. McNulty was merely offering explainer info to the reporter. ---
**Author:** ![Snowboarder\_Bo](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/snowboarder_bo/32/229_2.png) [@Snowboarder\_Bo](https://boards.straightdope.com/u/Snowboarder_Bo)\ **Post date:** [March 1, 2018, 10:43pm UTC](https://boards.straightdope.com/t/rnc-finance-chair-steve-wynn-resigns-amid-scandal/807609/38 "2018-03-01T22:43:57Z")
[Add 2 to the tally, please](https://apnews.com/3b1857e21b914609a759081e0b1e8b64/2-massage-therapists-accuse-Steve-Wynn-of-sexual-misconduct): > [@](#): > > Two massage therapists have claimed in new lawsuits that casino mogul Steve Wynn used his power to coerce them into sexual acts, making them the latest women to accuse the billionaire of sexual misconduct. > > The unnamed 49-year-old woman and an unnamed 36-year-old woman made strikingly similar allegations in their separate lawsuits about what happened during their time as therapists working for Wynn Resorts. > > Wynn forced the younger woman into sexual acts about 50 times over the course of about three years starting in 2006, she said in a lawsuit filed Thursday. She says Wynn gave her $400 “tip” after each massage and told her to never to talk about it. > > The older woman said Wynn forced her sexual acts about a dozen times in 2011-2012, giving her a $1,000 “tip” after each massage and telling her to never to talk about it, according to her lawsuit filed Wednesday. > > Both said the sessions took place in Wynn’s office with the door locked and security officers and dogs outside guarding the room. The women said they declined some of his sexual requests, but said they thought they would be fired if they did not agree to do certain things. > > Wynn’s spokesman, Ralph Frammolino, did not immediately respond to an emailed request for comment. ---
**Author:** ![Snowboarder\_Bo](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/snowboarder_bo/32/229_2.png) [@Snowboarder\_Bo](https://boards.straightdope.com/u/Snowboarder_Bo)\ **Post date:** [March 7, 2018, 10:58pm UTC](https://boards.straightdope.com/t/rnc-finance-chair-steve-wynn-resigns-amid-scandal/807609/39 "2018-03-07T22:58:02Z")
[The state of Oregon is now suing Steve Wynn and Wynn Resorts](https://apnews.com/d69cdefb09f74357a783c2d23d6e3c50/Oregon-sues-mogul-Steve-Wynn,-company-after-sex-allegations): > [@](#): > > The civil case , alleging massive breaches of fiduciary duty that caused damage to the company and impaired long-term shareholder value, was filed Tuesday in district court in Clark County, Nevada. Last month, New York’s public pension fund, the nation’s third largest, filed a similar lawsuit. > > The offices of Oregon Attorney General Ellen Rosenblum and Oregon Treasurer Tobias Read announced the lawsuit, saying Oregon’s pension system held 8,506 shares of Wynn Resorts worth $1.3 million and that the investment is suffering a loss because of misconduct and inaction. > > The lawsuit is part of another front opening up in the #MeToo movement that aims to hold those involved in sexual misconduct, and those who cover it up, accountable. The movement launched after an October expose of movie mogul Harvey Weinstein by the New York Times. > > “This filing will help hold the Board of Directors and Mr. Wynn accountable for their profound dereliction of fiduciary duty,” Read said. [Here’s the court filing](http://www.oregon.gov/treasury/Newsroom/Topics%20of%20Interest/Wynn%20Lawsuit%20complaint.pdf). [Previous page](https://boards.straightdope.com/t/rnc-finance-chair-steve-wynn-resigns-amid-scandal/807609.md?page=1)