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Mon Aug 8, 2016, 09:58 PM

The Orange Sludge: Ripping people off and illegal money laundering [View all]

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 BSA’s 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.


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.

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Reply The Orange Sludge: Ripping people off and illegal money laundering [View all]
postatomic Aug 2016 OP
Stonepounder Aug 2016 #1