Casino Owned by Presidential Candidate Donald Trump Violated U.S. Money Laundering Laws Repeatedly

Bill Conroy
7 min readMay 21, 2020

Federal law enforcers fined gaming company more than $10 million for leaving “financial system unacceptably exposed” to criminal activity

Originally published Oct. 23, 2016, at NarcoNews.com

By Bill Conroy

Republican presidential contender Donald Trump has billed himself as a law-and-order candidate and even claims his opponent, Democrat Hillary Clinton, should not be allowed to run for high office because of her alleged past crimes — although she had never been indicted, much less convicted of a crime.

Trump, as an owner and a top executive overseeing Trump Taj Mahal casino in Atlantic City, New Jersey, however, flouted U.S. money laundering laws for years, contributing to a decision last year by the federal Financial Crimes Enforcement Network, or FinCEN, to fine the casino $10 million for “willful and repeated violations” of U.S. law. Those violations involved transgressions of the Bank Secrecy Act (BSA, also known as the Currency and Foreign Transaction Reporting Act), which, in part, is designed to prevent money laundering by terrorist groups, corrupt foreign leaders and criminal organizations.

“Trump Taj Mahal has a long history of prior, repeated BSA violations cited by examiners dating back to 2003,” states a FinCEN press release announcing the $10 million fine against Trump Taj Mahal last March. “Additionally, in 1998, FinCEN assessed a $477,700 civil money penalty against Trump Taj Mahal for currency-transaction reporting violations.”

The casino, according to FinCEN, admitted to breaking the law by failing to:

* Implement and maintain an effective anti-money laundering program;
* Report suspicious transactions;
* File currency transaction reports for cash transactions involving more than $10,000; and
* Keep required records as mandated by the BSA.

“The IMF [International Monetary Fund] and World Bank estimate that 3 percent to 5 percent of global GDP [gross domestic product] is laundered — approximately $2.17 [trillion] to $3.61 trillion annually,” the U.S. State Department reports on its…

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Bill Conroy

Bill Conroy is an independent investigative journalist. For more information, check out billconroy.pressfolios.com.