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Trump Will Drop Lawsuit For $500 Million

3 December 2004

NEW LONDON, Connecticut – As reported by the Associated Press: "Donald Trump got fired. Now he's asking for $500 million.

"The real estate mogul and television star is offering to drop his breach of contract lawsuit against the Eastern Pequot tribe and the casino investors who replaced him in exchange for a half a billion dollars.

"…The Eastern Pequots' attorney, however, says the tribe is not interested in the deal.

"…'I think a more appropriate valuation is the one he (Trump) put in his bankruptcy filing, which is zero,' Lawyer Robert D. Tobin said.

"Trump invested more than $10 million through one of his subsidiary companies in an effort to help a faction of the tribe open a casino.

"Assets for the subsidiary are listed as $0 in last month's Chapter 11 bankruptcy filing by Trump Hotels & Casino Resorts Inc., which mainly consists of three Atlantic City properties and a riverboat casino in Indiana…"

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