Welcome to DU!
The truly grassroots left-of-center political community where regular people, not algorithms, drive the discussions and set the standards.
Join the community:
Create a free account
Support DU (and get rid of ads!):
Become a Star Member
Latest Breaking News
General Discussion
The DU Lounge
All Forums
Issue Forums
Culture Forums
Alliance Forums
Region Forums
Support Forums
Help & Search
2016 Postmortem
Related: About this forumThe Orange Sludge: Ripping people off and illegal money laundering
As someone who has been involved in small business most of my life this really pisses me off. I've dealt with assholes like the Orange Sludge over the years.
If you are engaged in illegal criminal activity or you are say.... a terrorist... Trump was the place to go!!!
Trump Taj Mahal willfully violated the BSAs program, reporting, and recordkeeping requirements from 2010 through 2012. Importantly, many of these violations were previously cited by IRS SB/SE in previous examinations of Trump Taj Mahal since 2003. As described below, Trump Taj Mahal (a) failed to implement and maintain an effective anti-money laundering program; (b) failed to report suspicious activity related to several financial transactions at the casino; (c) failed to properly file Currency Transaction Reports; and (d) failed to keep appropriate records as required by the BSA and its implementing regulations.
The BSA and its implementing regulations require a casino to report a transaction that the casino knows, suspects, or has reason to suspect is suspicious, if the transaction is conducted or attempted by, at, or through the casino, and the transaction involves or aggregates to at least $5,000 in funds or other assets.
A transaction is suspicious if the transaction: (a) involves funds derived from illegal activity; (b) is intended or conducted in order to hide or disguise funds or assets derived from illegal activity, or to disguise the ownership, nature, source, location, or control of funds or assets derived from illegal activity; (c) is designed, whether through structuring or other means, to evade any requirement in the BSA or its implementing regulations; (d) has no business or apparent lawful purpose or is not the sort in which the particular customer would normally be expected to engage, and the casino knows of no reasonable explanation for the transaction after examining the available facts, including the background and possible purpose of the transaction; or (e) involves use of the casino to facilitate criminal activity.
Within the scope period of the 2010 and 2012 IRS SB/SE examinations, Trump failed to file approximately 100 SARs. During the three-month examination scope for the 2010 BSA exam, Trump Taj Mahal filed 32 SARs, but failed to file 41 others, which represents a 56% failure rate. Similarly, during the three-month exam scope for the 2012 BSA exam, Trump Taj Mahal filed 69 SARs, but failed to file 55 others, which represents a failure rate of 44%. The suspicious activity included patrons engaged in minimal gaming activity, avoiding the CTR filing requirement by structuring marker payments and chip redemptions to avoid reporting, and apparent laundering of funds through the issuance and redemption of slot ticket in/ticket-out tickets.
http://bit.ly/2aHBKSR
The Clinton Campaign has a 'tip-line' which I've sent this and other related material. They are probably more aware of it than myself but just to be certain.......
I don't know for a fact that Terrorists used the Trump Casino to launder their money, but I've heard things.
InfoView thread info, including edit history
TrashPut this thread in your Trash Can (My DU » Trash Can)
BookmarkAdd this thread to your Bookmarks (My DU » Bookmarks)
1 replies, 1476 views
ShareGet links to this post and/or share on social media
AlertAlert this post for a rule violation
PowersThere are no powers you can use on this post
EditCannot edit other people's posts
ReplyReply to this post
EditCannot edit other people's posts
Rec (3)
ReplyReply to this post
1 replies
= new reply since forum marked as read
Highlight:
NoneDon't highlight anything
5 newestHighlight 5 most recent replies
The Orange Sludge: Ripping people off and illegal money laundering (Original Post)
postatomic
Aug 2016
OP
Stonepounder
(4,033 posts)1. I read the whole thing.
Note that the Taj Mahal entered into a Consent Decree and agreed to pay a $10,000,000 fine. It sure sounds like (and, please, IANAL) they were money laundering. Trump is nothing more than a gangster and a money launderer for crooks and anyone else that cares to avail themselves of his 'services'.