Welcome to DU! The truly grassroots left-of-center political community where regular people, not algorithms, drive the discussions and set the standards. Join the community: Create a free account Support DU (and get rid of ads!): Become a Star Member All Forums Issue Forums Culture Forums Alliance Forums Region Forums Support Forums Help & Search

babylonsister

(170,964 posts)
Mon Mar 30, 2020, 08:42 PM Mar 2020

Court Rules Against Trump's Business in Fraud Case Stemming from Sale of Controversial Hotel


Court Rules Against Trump’s Business in Fraud Case Stemming from Sale of Controversial Hotel
by Jerry Lambe | 4:56 pm, March 30th, 2020


A federal court in Manhattan on Monday ruled against President Donald Trump’s private business, finding that a former business partner could pursue fraud claims stemming from allegations that the president’s company evaded income taxes and under-represented expenses at its scandal-plagued Panama hotel and condominium complex.

The plaintiffs, Ithaca Capital Investments (Capital), purchased a majority of the units in the Panama project in 2016, nearly two years before the Trump International Hotels Management (Trump International) entirely withdrew from the project, which is now JW Marriott.

In a 26-page opinion, U.S. District Judge Edgardo Ramos ruled that Ithaca could amend a previous lawsuit to add fraud claims against Trump International alleging the company induced purchase of a majority of the units by fraudulently misrepresenting the hotel’s performance. Ramos also dismissed Trump International’s counterclaims of breach of contract and fraudulent concealment and inducement against Ithaca.

According to the complaint, Trump’s company repeatedly provided Ithaca with false information while the company was conducting due diligence on the hotel’s financials prior to a potential purchase.


more...

https://lawandcrime.com/lawsuit/court-rules-against-trumps-business-in-fraud-case-stemming-from-sale-of-controversial-hotel/?fbclid=IwAR2jwSBf-1Ec_34Y6wXjq5k15P_hYGIPWgLrhiOciY4l9ZM4KP0F5GELM-g
10 replies = new reply since forum marked as read
Highlight: NoneDon't highlight anything 5 newestHighlight 5 most recent replies
Court Rules Against Trump's Business in Fraud Case Stemming from Sale of Controversial Hotel (Original Post) babylonsister Mar 2020 OP
May this be the first domino to fall leftieNanner Mar 2020 #1
Bingo,... top dead center hit on that rusty nail, drove that home with one hit. magicarpet Mar 2020 #8
Hardee Har Me. Mar 2020 #2
That's the one they used edhopper Mar 2020 #3
Drip, drip, drip. smirkymonkey Mar 2020 #4
How stupid must the plaintiffs be to believe anything the trumps told them? Hoyt Mar 2020 #5
GMTA niyad Mar 2020 #7
While I am pleased with the ruling, I have a question for Ithaca. What the hell were you thinking, niyad Mar 2020 #6
Sounds good but please wake me when there are actual consequences. Marie Marie Mar 2020 #9
Hey, as long as they're going forward. nt babylonsister Mar 2020 #10

magicarpet

(13,945 posts)
8. Bingo,... top dead center hit on that rusty nail, drove that home with one hit.
Mon Mar 30, 2020, 09:03 PM
Mar 2020

.....perpetually fraudulent life of Donald J. Trump!


niyad

(112,440 posts)
6. While I am pleased with the ruling, I have a question for Ithaca. What the hell were you thinking,
Mon Mar 30, 2020, 08:58 PM
Mar 2020

Entering into an arrangement with don the con..... Everyone knew his reputation!, yet you did it byway. Greed? Stupidity? Arrogance?

Latest Discussions»General Discussion»Court Rules Against Trump...