Don't be a Jerk.
Gold VIP Contributor
- Mar 1, 2007
- Reaction score
- Fort Lauderdale, FL
Another bomb, might be its own thread. If this is true (seems like it is), I can't imagine south Florida reacting well to this (secretly spending money in Cuba in the 90's during Embargo). Happened days before his first Presidential bid.
How Donald Trump
How Donald Trump
A company controlled by Donald Trump, the Republican nominee for president, secretly conducted business in Communist Cuba during Fidel Castro’s presidency despite strict American trade bans that made such undertakings illegal, according to interviews with former Trump executives, internal company records and court filings.
Documents show that the Trump company spent a minimum of $68,000 for its 1998 foray into Cuba at a time when the corporate expenditure of even a penny in the Caribbean country was prohibited without U.S. government approval. But the company did not spend the money directly. Instead, with Trump’s knowledge, executives funneled the cash for the Cuba trip through an American consulting firm called Seven Arrows Investment and Development Corp. Once the business consultants traveled to the island and incurred the expenses for the venture, Seven Arrows instructed senior officers with Trump’s company—then called Trump Hotels & Casino Resorts—how to make it appear legal by linking it after the fact to a charitable effort.
The documents obtained by Newsweek give no indication why the $39,000 spent on Seven Arrows’ primary assignment—arranging for a casino deal with the Seminole tribe—was so much less than the $68,000 expended on the Cuba effort. The former Trump executive could not offer any explanation for the disparity.
Though it has long been illegal for corporations to spend money in Cuba without proper authorization, there is no chance that Trump, the company or any of its executives will be prosecuted for wrongdoing. The statute of limitations ran out long ago, and legal analysts say OFAC’s enforcement division is understaffed, so the chances for an investigation were slim even at the time.
And perhaps that was the calculation behind the company’s decision to flout the law: the low risk of getting caught versus the high reward of lining up Cuban allies if the U.S. loosened or dropped the embargo. The only catch: What would happen if Trump’s Cuban-American supporters ever found out?