Saturday, March 14, 2009

The Menie Trumpet

This just in from the San Diego Union Tribune.

Nearly 70 plaintiffs who invested millions of dollars in the Trump Ocean Resort, a planned luxury oceanfront development in Baja California that was never built, are now suing Donald Trump, his son and daughter, and the project's developers on a fraud claim.

The lawsuit was filed yesterday in Los Angeles Superior Court. It alleges, among other things, that buyers who put down deposits on the planned development's 526 condo-hotel units were deceived into believing they were buying into a Trump development when the Trump name was merely licensed by the developers.

Included among the defendants are Trump, Donald Trump Jr. and Ivanka Trump, as well as principals of the project's Los Angeles-based developers, Irongate Development, its partner company Punta Bandera Investors USA, and its real estate brokers S&P Destination Properties.

Among the 41 causes of action listed are allegations of fraudulent inducement, negligent misrepresentation, deceit and breach of fiduciary duty.

Tricked into buying into the development when all they had done was license the Trump name? Perish the thought!

3 comments:

Jeff said...

Richard,

You might be interested in this post if you haven't already seen it:

http://www.twodoctors.org/2009/03/posttrump-syndrome.html


Tip of the iceberg by the looks of things!

Richard Havers said...

Ah Jeff, a man after my own heart. This must be my fifteenth or so posting on Trump. Since the outset of things it has been an exercise in smoke and mirrors. It's embarrassing that we have a government that has fallen for his smooth line in salesmanship.

The Lakelander said...

I can't help but think that "The Donald's" empire is beginning to resemble a house of cards.

And it's starting to come tumbling down.

What a shame....