Riviera shares and option arrangement

2002-07-01

unresolved

Promised: 1995-06-01The public company presented investment decisions as serving its casino business and shareholders.Open cited record · 1 source
The record: 2002-07-01The company acquired Riviera shares while Trump obtained a disclosed personal option tied to the position.Open cited record · 2 sources2002-12-26The company and Trump held overlapping economic interests in the Riviera investment.Open cited record · 1 source
Who gained: Donald Trump
Who paid: Trump Hotels & Casino Resorts public shareholders
Audit finding: unresolved
The filing documents overlapping company and personal interests in the same investment opportunity; it does not by itself establish a usurped corporate opportunity.
Causal strength: documented mechanism

Evidence chronology

promise1995-06-01documented
The public company presented investment decisions as serving its casino business and shareholders.
- U.S. Securities and Exchange Commission: Trump Hotels & Casino Resorts 1996 Form 10-K1997-03-28 · Business, acquisitions, debt, compensation, and related-party sections
Open underlying ledger entry
action2002-07-01documented
The company acquired Riviera shares while Trump obtained a disclosed personal option tied to the position.
- 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 · Pages 2-9: financing, related transactions, bankruptcies, and outcomes
Open underlying ledger entry
outcome2002-12-26documented
The company and Trump held overlapping economic interests in the Riviera investment.
- U.S. Securities and Exchange Commission: Trump Hotels & Casino Resorts 2002 Form 10-K2003-03-31 · Related-party transactions, notes, fees, and Riviera sections
Open underlying ledger entry
limitation2003-03-31documented
The arrangements were disclosed, and the filing does not adjudicate a fiduciary-duty violation.
- U.S. Securities and Exchange Commission: Trump Hotels & Casino Resorts 2002 Form 10-K2003-03-31 · Related-party transactions, notes, fees, and Riviera sections
Open underlying ledger entry

Responses, legal status, contrary evidence, and limitations

limitation
The arrangements were disclosed, and the filing does not adjudicate a fiduciary-duty violation.