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Posted At : March 9, 2009 04:38 PM | Posted By : Administrator
Related Categories:
International,Donald Trump
What will $32 million and change buy you? In the case of Trump Baja Ocean Resort, a big-ass hole in the ground where your investment ought to be. Oh, and a billboard of Trump's mug, too. Would-be buyers are being told they're going to have to eat their entire deposit.
Contractual fine print gave the Trump Organization the right to go out and blow depositors' money before the project was finished. Then, employing what his company would call "characteristic Trump fashion," El Donaldo removed his name from Trump Baja, fobbing it off on Mexican company PB Impulsores. Despite having had his moniker all over the project and being "involved in every capacity," Trump cannily lent only his name -- not his capital -- to the condo project.
You can guess what comes next. That's right: Trump is suing former partner Irongate for having "violated an agreement to license the Trump name, missing deadlines to obtain financing and begin construction." Success has a thousand fathers; as for Donald Trump's disowned progeny, somebody should open an orphanage. I know where they could probably get some Mexican land for one, too.
(Extra thanks to the two readers who tipped me off to this saga. Where would I be without you?)
Boy, that Trump sure makes more and more of a douchebag of himself every day, doesn't he?
It would be nice to see federal regulators and the SEC closely scrutinize this scam artist. He's nothing more than a common theif.
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