Mainecat Posted January 9, 2017 Share Posted January 9, 2017 FinCEN Fines Trump Taj Mahal Casino Resort $10 Million for Significant and Long Standing Anti-Money Laundering Violations Contact: Steve Hudak (703) 905-3770 Immediate Release March 06, 2015 WASHINGTON, DC – The Financial Crimes Enforcement Network (FinCEN) today imposed a $10 million civil money penalty against Trump Taj Mahal Casino Resort (Trump Taj Mahal), for willful and repeated violations of the Bank Secrecy Act (BSA). In addition to the civil money penalty, the casino is required to conduct periodic external audits to examine its anti-money laundering (AML) BSA compliance program and provide those audit reports to FinCEN and the casino’s Board of Directors. Trump Taj Mahal, a casino in Atlantic City, New Jersey, admitted to several willful BSA violations, including violations of AML program requirements, reporting obligations, and recordkeeping requirements. Trump Taj Mahal has a long history of prior, repeated BSA violations cited by examiners dating back to 2003. Additionally, in 1998, FinCEN assessed a $477,700 civil money penalty against Trump Taj Mahal for currency transaction reporting violations. "Trump Taj Mahal received many warnings about its deficiencies," said FinCEN Director Jennifer Shasky Calvery. "Like all casinos in this country, Trump Taj Mahal has a duty to help protect our financial system from being exploited by criminals, terrorists, and other bad actors. Far from meeting these expectations, poor compliance practices, over many years, left the casino and our financial system unacceptably exposed." Trump Taj Mahal admitted that it failed to implement and maintain an effective AML program; failed to report suspicious transactions; failed to properly file required currency transaction reports; and failed to keep appropriate records as required by the BSA. Notably, Trump Taj Mahal had ample notice of these deficiencies as many of the violations from 2012 and 2010 were discovered in previous examinations. Director Shasky Calvery expressed her appreciation to the Internal Revenue Service, Small Business/Self-Employed Division, which performed the examinations of Trump Taj Mahal, for their contributions to the investigation and for their strong partnership with FinCEN. She also thanked the Commercial Litigation Branch of the U.S. Department of Justice for their assistance with this enforcement action. Trump Taj Mahal petitioned for bankruptcy in September 2014. That bankruptcy remains pending. The Bankruptcy Court approved of Trump Taj Mahal’s settlement on March 4, 2015. FinCEN seeks to protect the U.S. financial system from being exploited by illicit actors. Its efforts are focused on compromised financial institutions; third-party money launderers; transnational organized crime; terrorist and other security threats; significant fraud; and threats to cyber security. FinCEN has a broad array of enforcement authorities to target both domestic and foreign actors affecting the U.S. financial system. https://www.fincen.gov/news/news-releases/fincen-fines-trump-taj-mahal-casino-resort-10-million-significant-and-long Quote Link to comment Share on other sites More sharing options...
racer254 Posted January 9, 2017 Share Posted January 9, 2017 LOL, You're more concerned about this than possible leaked classified information. You go girl. 1 Quote Link to comment Share on other sites More sharing options...
ICEMAN! Posted January 9, 2017 Share Posted January 9, 2017 3 minutes ago, racer254 said: LOL, You're more concerned about this than possible leaked classified information. You go girl. Yep, Flynn should be thrown in jail. Quote Link to comment Share on other sites More sharing options...
racer254 Posted January 9, 2017 Share Posted January 9, 2017 2 minutes ago, ICEMAN! said: Yep, Flynn should be thrown in jail. He is a democrat, so that won't happen. Quote Link to comment Share on other sites More sharing options...
Mainecat Posted January 9, 2017 Author Share Posted January 9, 2017 And that was a conviction for 10 million dollars. Guilty. Clintons? Quote Link to comment Share on other sites More sharing options...
Carlos Danger Posted January 9, 2017 Share Posted January 9, 2017 Trump sold out of the Taj years ago. Quote Link to comment Share on other sites More sharing options...
Mainecat Posted January 9, 2017 Author Share Posted January 9, 2017 2 minutes ago, Carlos Danger said: Trump sold out of the Taj years ago. His names on it and it goes back 7 years. Quote Link to comment Share on other sites More sharing options...
Carlos Danger Posted January 9, 2017 Share Posted January 9, 2017 9 minutes ago, Mainecat said: His names on it and it goes back 7 years. If memory serves he bailed out in the early to mid nineties. Yea right around the time of White water. Quote Link to comment Share on other sites More sharing options...
Platinum Contributing Member Skidooski Posted January 9, 2017 Platinum Contributing Member Share Posted January 9, 2017 1 hour ago, Mainecat said: And that was a conviction for 10 million dollars. Guilty. Clintons? According to you the Clintons are no longer relevant and therefore we shouldn't be talking about them......Only Trump Quote Link to comment Share on other sites More sharing options...
Rod Posted January 9, 2017 Share Posted January 9, 2017 Fuck mc is dumb 2 Quote Link to comment Share on other sites More sharing options...
Gold Member Kivalo Posted January 9, 2017 Gold Member Share Posted January 9, 2017 1 hour ago, Mainecat said: And that was a conviction for 10 million dollars. Guilty. Clintons? Really? You're still going with "show me the convictions"? I'm going to laugh when Trump refuses to let others run his business' and winds up getting in hot water over ethics violations. You just know thats bound to happen. Quote Link to comment Share on other sites More sharing options...
Zambroski Posted January 9, 2017 Share Posted January 9, 2017 7 minutes ago, Kivalo said: Really? You're still going with "show me the convictions"? I'm going to laugh when Trump refuses to let others run his business' and winds up getting in hot water over ethics violations. You just know thats bound to happen. I personally don't care if he continues "running" his own business. Politicians do it all the time and always have. Not sure why we are so focused on that. The reason I put running in quotes was because technically, he hasn't really run that for years (decades). His people and family do. Quote Link to comment Share on other sites More sharing options...
Momorider Posted January 9, 2017 Share Posted January 9, 2017 18 minutes ago, Sludgey said: Fuck mc is dumb Quote Link to comment Share on other sites More sharing options...
Mainecat Posted January 9, 2017 Author Share Posted January 9, 2017 "Trump Taj Mahal admitted that it failed to implement and maintain an effective AML program; failed to report suspicious transactions; failed to properly file required currency transaction reports; and failed to keep appropriate records as required by the BSA. Notably, Trump Taj Mahal had ample notice of these deficiencies as many of the violations from 2012 and 2010 were discovered in previous examinations." How much really was laundered by the Mafia, terrorists etc? Quote Link to comment Share on other sites More sharing options...
Gold Member Kivalo Posted January 9, 2017 Gold Member Share Posted January 9, 2017 Serious question: was Trump involved in the company at the time the violations took place? Quote Link to comment Share on other sites More sharing options...
Carlos Danger Posted January 9, 2017 Share Posted January 9, 2017 2 hours ago, Kivalo said: Serious question: was Trump involved in the company at the time the violations took place? No Trump sold out of Atlantic city in the 90s. Quote Link to comment Share on other sites More sharing options...
Angry ginger Posted January 9, 2017 Share Posted January 9, 2017 1 hour ago, Carlos Danger said: No Trump sold out of Atlantic city in the 90s. nope trump was involved into 2009 and I believe as part of his naming rights deal still had a piece for 4-5 years after that. Quote Link to comment Share on other sites More sharing options...
Gold Member BOHICA Posted January 10, 2017 Gold Member Share Posted January 10, 2017 9 hours ago, Mainecat said: "Trump Taj Mahal admitted that it failed to implement and maintain an effective AML program; failed to report suspicious transactions; failed to properly file required currency transaction reports; and failed to keep appropriate records as required by the BSA. Notably, Trump Taj Mahal had ample notice of these deficiencies as many of the violations from 2012 and 2010 were discovered in previous examinations." How much really was laundered by the Mafia, terrorists etc? Didnt trump sell his interest in that in 2009? Quote Link to comment Share on other sites More sharing options...
Sleepr2 Posted January 10, 2017 Share Posted January 10, 2017 10 hours ago, BOHICA said: Didnt trump sell his interest in that in 2009? McLiar will check with Duh underground and promptly ignore the reality Quote Link to comment Share on other sites More sharing options...
Snoslinger Posted January 10, 2017 Share Posted January 10, 2017 On 1/9/2017 at 0:04 PM, Zambroski said: I personally don't care if he continues "running" his own business. Politicians do it all the time and always have. Not sure why we are so focused on that. The reason I put running in quotes was because technically, he hasn't really run that for years (decades). His people and family do. Quote Link to comment Share on other sites More sharing options...
Mainecat Posted January 10, 2017 Author Share Posted January 10, 2017 If anyone here thinks he doesn't charge a dime for his name to appear on something is a baffoon Quote Link to comment Share on other sites More sharing options...
Zambroski Posted January 10, 2017 Share Posted January 10, 2017 4 minutes ago, Snoslinger said: Like someone posted earlier, this is why you people can't have nice things. Just now, Mainecat said: If anyone here thinks he doesn't charge a dime for his name to appear on something is a baffoon Why would he sell the rights to use his name for free? It's not like it's your name and credibility and marketability lose value immediately once it is seen or spoken. Quote Link to comment Share on other sites More sharing options...
racer254 Posted January 10, 2017 Share Posted January 10, 2017 3 minutes ago, Mainecat said: If anyone here thinks he doesn't charge a dime for his name to appear on something is a baffoon So that is what we have to use as a metric now? Quote Link to comment Share on other sites More sharing options...
Mainecat Posted January 10, 2017 Author Share Posted January 10, 2017 9 minutes ago, Zambroski said: Like someone posted earlier, this is why you people can't have nice things. Why would he sell the rights to use his name for free? It's not like it's your name and credibility and marketability lose value immediately once it is seen or spoken. where is the faceplant emo? Quote Link to comment Share on other sites More sharing options...
Snoslinger Posted January 10, 2017 Share Posted January 10, 2017 8 minutes ago, Zambroski said: Like someone posted earlier, this is why you people can't have nice things. Why would he sell the rights to use his name for free? It's not like it's your name and credibility and marketability lose value immediately once it is seen or spoken. dude the Clintons couldn't even have a charity without you soiling your depends, crying foul, and demanding investigations. now here you are trying to tell us you don't care about trump's international businesses? lmfao. Quote Link to comment Share on other sites More sharing options...
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