Trump's Castle services fee to a Trump-owned company
What happened
promisedocumented The public company presented its capital and operations as serving the casino enterprise and investors.
- U.S. Securities and Exchange Commission: Trump Hotels & Casino Resorts 1996 Form 10-K1997-03-28 · Business, acquisitions, debt, compensation, and related-party sections
actiondocumented A casino subsidiary paid service fees to an entity owned by Trump.
- U.S. Securities and Exchange Commission: Trump Hotels & Casino Resorts 2002 Form 10-K2003-03-31 · Related-party transactions, notes, fees, and Riviera sections
outcomedocumented The annual filing disclosed Trump-controlled ownership and the related-party payment.
- U.S. Securities and Exchange Commission: Trump Hotels & Casino Resorts 2002 Form 10-K2003-03-31 · Related-party transactions, notes, fees, and Riviera sections
limitationdocumented The filing does not find that the services were fictitious or the fee unlawful.
- U.S. Securities and Exchange Commission: Trump Hotels & Casino Resorts 2002 Form 10-K2003-03-31 · Related-party transactions, notes, fees, and Riviera sections
- The New York Times via U.S. House Judiciary Committee record: How Donald Trump Bankrupted His Atlantic City Casinos, but Still Earned Millions2016-06-11 · Related-party service-payment discussion
People and organizations
- Trump Hotels & Casino Resorts public shareholdersaffected party
- Trump-owned services entitybeneficiary
Assessment
Trump's Castle paid fees to a services entity Trump owned. Disclosure alone does not establish that the services or the price were improper.