Contact: Steve Hudak (703) 905-3770

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 Opened on April 2, 1990 and it cost $1.1 billion which made it the most expensive casino built at that time. It was even advertised as the eighth wonder of the world. Donald Trump with his Mother Mary Anne Macleod Trump, Father Fred Trump and eldest sister Maryanne Trump. Facts about Trump Taj Mahal. Trump Taj Mahal was the one. At the nearly deserted eastern end of the boardwalk, the Trump Taj Mahal, now under new ownership, is all that remains of the casino empire Donald J. Trump assembled here more than a quarter.

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.

FinCEN's mission is to safeguard the financial system from illicit use and combat money laundering and promote national security through the collection, analysis, and dissemination of financial intelligence and strategic use of financial authorities.

Casino Taj Mahal Donald Trump Accomplishments

The construction of Trump Taj Mahal casino hotel began in the year 1983 in Atlantic City, New Jersey by Resorts International and the budget was estimated to be$250 million. The death of James M. Crosby, the resorts head in April 1986 led to the bidding of the Taj Mahal.

Donald Trump bided $79 million, the highest to buy the controlling stake in the company July 1987. The estimated budget had reached $930 million but the company had raised only $550 million. The company lacked finance so trump offered to buy the outstanding stakes at $22 per share and finance the project.

Merv Griffin, television producer, also made an offer to buy the shares at $35 which led to a battle for takeover between Trump and Griffin. Finally in November 1988 they reached a settlement which resulted in Griffin purchasing the Resorts International and Trump buying the Taj Mahal from the company.

Trump Taj Mahal Opened on April 2, 1990 and it cost $1.1 billion which made it the most expensive casino built at that time. It was even advertised as the eighth wonder of the world.

Casino Taj Mahal Donald Trump Supporters

Facts about Trump Taj Mahal

Trump Taj Mahal was the one of the tallest buildings in Atlantic City. It consisted of 50 floors and had 2,010 rooms in total. It included a casino with a gaming space of 120,000 sq. feet. It was Indian themed casino resort and had its own bus depots link to New York, New Jersey and Pennsylvania.

The rooms in the Hotel all had mini fridges, flat screens and whirlpool baths. Some of the rooms had mirrored bedroom ceilings and floor to ceiling windows.

The casino had 3,500 slot machines and 200 table games. It even had a smoke free poker room.

The Mahal had variety of restaurant to choose from. Some of the restaurants are BurgerDynasty,
Hard Rock,Beriyoetc.

King of Pop Michael Jackson and Model Elle Macpherson were special guests and performers in the opening ceremony.

Casino Taj Mahal Donald Trump Tweet

Trump Taj Mahal is now the subsidiary of Icahn Enterprises.