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Donald Trump sued by hundreds of property investors

Donald Trump has not had the best few weeks.

Firstly his bid for the White House (not to buy it – but to be President of the USA) seems to have hit a dead end and now he’s being sued for alleged deceptive practices.

His slide began when President Obama called the Trump’s bluff by releasing his official Hawaii birth certificate. Then, after a Navy SEALs team killed Osama bin Laden, the president’s live announcement cut into the end of “The Celebrity Apprentice” on the East coast.

And now the New York Times is reporting that hundreds of people are suing Trump and his associates, alleging deceptive real estate practices in which buyers believed they are investing in Trump property only to discover the billionaire had “rented his name to the developments and had no responsibility for their outcomes.”

“In each case, he yanked his name off the projects, which were never completed,” Michael Barbaro wrote in an article titled “Buying a Trump Property, or So They Thought” that appeared on the front page of New York Times. “The buyers lost millions of dollars in deposits even as Mr. Trump pocketed hefty license fees,” Barbaro reported.

Trump and Barbaro were scheduled to talk about the article on CNBC, but when Barbaro didn’t appear, the ever-reserved Trump called him a “terrible reporter” who “didn’t have the guts” face off against him on the cable channel because “he doesn’t have any facts.”

Source: LA Times



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About

Michael is a director of Metropole Property Strategists who help their clients grow, protect and pass on their wealth through independent, unbiased property advice and advocacy. He's once again been voted Australia's leading property investment adviser and his opinions are regularly featured in the media. Visit Metropole.com.au


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