Fred Trump illegally transfers more than $3.5 million to Donald through casino chips

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Dates on Trump File reflect when something happens, not when it's first reported.

Fred Trump has attorney Howard Snyder buy $3.5 million worth of gaming chips at Trump Castle and walk out the door with the chips, infusing the casino with much-needed cash. Snyder is accompanied out the door with a police escort.

The next day, he wires another $150,000 to Trump Castle. 

The payment gave the younger Trump enough cash to make an $18.4 million payment due bondholders in the casino and surprised analysts who said it appeared Trump lacked enough money to make the payment, officials said.

Associated Press

Spokespeople for The Trump Organization and Trump Castle decline to comment and refuse to take calls altogether.

Fred Trump is not legally allowed to lend money to casinos. The family fixes that issue in June 1991, allowing the scheme to be carried out legally in the future.

External Sources

AP News (Archived)

Press of Atlantic City (Archived)

Mother Jones (Archived)

Photo: AP Photo / Adam Scull

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Dates on Trump File reflect when something happens, not when it's first reported.

Fred Trump has attorney Howard Snyder buy $3.5 million worth of gaming chips at Trump Castle and walk out the door with the chips, infusing the casino with much-needed cash. Snyder is accompanied out the door with a police escort.

The next day, he wires another $150,000 to Trump Castle. 

The payment gave the younger Trump enough cash to make an $18.4 million payment due bondholders in the casino and surprised analysts who said it appeared Trump lacked enough money to make the payment, officials said.

Associated Press

Spokespeople for The Trump Organization and Trump Castle decline to comment and refuse to take calls altogether.

Fred Trump is not legally allowed to lend money to casinos. The family fixes that issue in June 1991, allowing the scheme to be carried out legally in the future.

External Sources

AP News (Archived)

Press of Atlantic City (Archived)

Mother Jones (Archived)

Photo: AP Photo / Adam Scull

NOTE FROM TF

Some files are incomplete as the site is still young and Trump world moves fast. Please use the source links to read further if a topic interests you or if you doubt its authenticity. I plan to go back and build on every file in the future.

If there is content you'd like to add context to or something that should be corrected, please contact us by clicking here or email us at trumpfile@protonmail.com

Support The Site:

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