Fred Trump gets permission to funnel money to Donald through his casinos

The Trump Timeline

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New Jersey’s Casino Control Commission decides that Fred Trump meets the legal requirements necessary to lend money to Donald Trump’s casinos.

The decision comes six months after Fred Trump illegally transferred over $3 million to Trump Castle to help Donald pay back bondholders he owed.

In a unanimous decision, the state Casino Control Commission ruled that the 85-year-old Fred Trump meets all the licensing requirements that are imposed on people or firms that lend money to casinos. The decision means that Donald Trump can now legally borrow money from his father to help resolve financial problems at his casinos.

Deputy Attorney General Thomas Auriemma said that an investigation by the state Division of Gaming Enforcement uncovered nothing that should prevent the elder Trump from getting licensed.

The Press of Atlantic City

The commission was probably looking for any way to keep Trump casinos afloat. That same year, the commission noted that “Mr. Trump cannot be considered financially stable.”

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