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Mon Jun 27, 2016, 09:10 PM

 

Trump's failed Baja resort fits pattern in candidate's business record

Trump's failed Baja resort fits pattern in candidate's business record
Trump Ocean Resort brought in $32.5 million in buyer deposits; 250 buyers lost their deposits.




Simms, then an aerospace purchasing agent living in Los Angeles, said she used her life savings to pay a deposit of just over $50,000 for unit No. 602, a one-bedroom overlooking the Pacific.

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In the end, nothing at all was built at Trump Ocean Resort, and Simms lost her money. As did about 250 other buyers, most of them from Southern California.

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“When the project went south, no one from the Trump organization even contacted us to take responsibility,” Sapol said. “We were misled — all the marketing materials, the brochures, the name of the building, the fact that Trump’s daughter was at the event, saying she and her brother bought units.”

Ivanka Trump later told CBS News that her family had “lived up to our obligation under a license agreement.”

“We were never the developer of this project, and that was made clear,” she said. “We never took anyone’s deposit.”

Trump, she said, was just the brand. “I am sorry for everyone, but we are in the same boat,” she said.

The Trumps did collect $500,000 in licensing fees from developers Jason Grosfeld and Adam Fisher, the principals behind Irongate and P.B. Impulsores.


http://www.startribune.com/trump-s-failed-baja-resort-fits-pattern-in-candidate-s-business-record/384613361/

4 replies, 1025 views

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Reply Trump's failed Baja resort fits pattern in candidate's business record (Original post)
Liberal_in_LA Jun 2016 OP
uponit7771 Jun 2016 #1
gratuitous Jun 2016 #2
baldguy Jun 2016 #3
DesertRat Jul 2016 #4

Response to Liberal_in_LA (Original post)

Mon Jun 27, 2016, 11:25 PM

1. dude is greasy

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Response to Liberal_in_LA (Original post)

Mon Jun 27, 2016, 11:40 PM

2. Trump can afford to take a $50,000 bath

If you can't, caveat emptor. Notice that the Trumps did pick off 500 large for this failed project that was never built. If you can get it, it's real nice work. Please accept their sincerest apology for the loss of your life's savings in lieu of a place to live. You have other residences, right? Or are you just another loser trying to take the Trumps' fair-and-square away?

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Response to Liberal_in_LA (Original post)

Tue Jun 28, 2016, 06:54 AM

3. Donad Trump: One-man Ponzi scheme.

 

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Response to Liberal_in_LA (Original post)

Mon Jul 4, 2016, 01:39 PM

4. His sons and daughter help him bilk people out of their money

Most of the Trump Baja condo buyers accused Trump and two of his adult children, Ivanka and Donald Trump Jr., of duping them into believing that Trump was one of the developers, giving them confidence that it was safe to buy unbuilt property in Mexico.
http://www.latimes.com/politics/la-na-pol-trump-baja-snap-story.html

This is the same way that they are duping idiots into thinking he'll be a great president.

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