Here Are The Trump Projects Where Ivanka And Her Dad Misled Buyers

[turbinetree]

By Katherine Sullivan ProPublica and Heather Vogell ProPublica
October 18, 2018 11:06 am
Read the Trumps’ false statements — and what the actual facts were.

A pattern of deception ran through the Trumps’ real estate deals since the mid-2000s. Not only were the Trumps more than the mere licensors they claimed to be, extracting millions in fees from nearly every facet of these projects, but they often misled buyers and investors on key information — such as the level of sales and the Trumps’ role and investment in the deals. (Read ProPublica’s full investigation.) The Trump Organization did not respond to our questions, and the White House didn’t have a comment.

See List:

https://talkingpointsmemo.com/news/trump-real-estate-deals-ivanka-mislead-buyers


So in other words they are frauds....................and they were knowing to be committing fraud.............

[dixiegrrrrl]

1. Here's the handy list of some of projects. Most of them did not fare well.

Thanks to the Pro Publica article...


Projects Where a Trump Family Member Overstated Sales Numbers

Dominican Republic
Claim: Donald Trump claimed $365 million in sales in a 2007 letter to The Wall Street Journal.
Reality: Trump reported $290 million in a 2009 project audit.
Result: Never built.

Fort Lauderdale
Claim: Trump announced the hotel/condo was “pretty much sold out” in April 2006, according to a broker who attended the presentation.
Reality: 62 percent of units were sold as of July 2006, according to bank records that emerged in a court case.
Result: Entered foreclosure. Trump’s name removed before construction completed.

Las Vegas
Claim: Condos “sold out,” Trump told The Associated Press in 2005
Reality: About 25 percent of units were sold by 2011, according to press accounts.
Result: Built.

Panama
Claim: “It’s a 1,000-unit building, we've sold over 90 percent of it,” Ivanka told Portfolio in 2008.
Reality: As of three months later, 79 percent of the units were pre-sold, according to Moody’s.
Result: Built, but went bankrupt; Trump name removed.

SoHo
Claim: In 2008, Ivanka told reporters that 60 percent of units had sold.
Reality: A Trump partner’s affidavit revealed that 15 percent had been sold at the time.
Result: Built, but went bankrupt; Trump name removed.

Tampa
Claim: The building “sold out,” Trump told The Wall Street Journal in 2007.
Reality: The developers failed to sell a minimum of 70 percent of units, according to a Trump company letter that year, which deemed that a violation of its contract.
Result: Never built.

Toronto
Claim: In a 2009 interview, Ivanka referred to the property as “virtually sold out.”
Reality: 24.8 percent of units had sold, according to a 2016 bankruptcy filing by the developers.
Result: Built, but went bankrupt; Trump name removed.