Money Laundering and the Trump Taj Mahal
Just months before Donald Trump announced his bid for president in 2015, federal regulators announced they were slapping one of his longtime Atlantic City casinos with a record-setting $10 million fine for lack of controls around money laundering.
The problems went back years. The penalty was actually the second record-setting fine for the Trump Taj Mahal involving money-laundering oversight.
What exactly did the Taj fail to do? Casino officials admitted to “willful and repeated” violations of the Bank Secrecy Act: As federal authorities put it in a settlement, the Trump Taj Mahal “failed to report suspicious transactions; failed to properly file required currency transaction reports; and failed to keep appropriate records as required.”
In this episode of Trump, Inc., our podcast with ProPublica, we dig into the now-bankrupt and shuttered Trump Taj Mahal, once one of the biggest and glitziest casinos in the world. It’s a story of chaotic operations, massive debt, and a tendency to treat rules as more like suggestions. Ring a bell?
And remember, we want to hear from you: We’re always eager for tips. We also want to hear your questions. What would you like to know about Trump’s businesses? What confuses you? We may be able to answer, and even if not, we can at least try to explain why something isn’t known.
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