Atlantic City casino magnate Donald Trump has been sued in Delaware by a Trump Hotels & Casino Resorts Inc. shareholder who says the company improperly loaned the developer $26 million, from which Trump allegedly took $13.5 million to pay a personal debt.
In the suit, filed July 29 in Delaware Chancery Court in Wilmington, shareholder William Steiner contends that Trump, the majority owner of Trump Hotels, and four other directors illegally breached their duties to the struggling casino company by allowing him to borrow the cash last fall.
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