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Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsCourt Rules Against Trump's Business in Fraud Case Stemming from Sale of Controversial Hotel
Court Rules Against Trumps 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 Trumps private business, finding that a former business partner could pursue fraud claims stemming from allegations that the presidents 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 hotels performance. Ramos also dismissed Trump Internationals counterclaims of breach of contract and fraudulent concealment and inducement against Ithaca.
According to the complaint, Trumps company repeatedly provided Ithaca with false information while the company was conducting due diligence on the hotels 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
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Court Rules Against Trump's Business in Fraud Case Stemming from Sale of Controversial Hotel (Original Post)
babylonsister
Mar 2020
OP
Bingo,... top dead center hit on that rusty nail, drove that home with one hit.
magicarpet
Mar 2020
#8
leftieNanner
(14,998 posts)1. May this be the first domino to fall
in the perpetually fraudulent life of Donald J. Trump!
magicarpet
(13,945 posts)8. Bingo,... top dead center hit on that rusty nail, drove that home with one hit.
.....perpetually fraudulent life of Donald J. Trump!
Me.
(35,454 posts)2. Hardee Har
edhopper
(33,213 posts)3. That's the one they used
to launder cartel money.
smirkymonkey
(63,221 posts)4. Drip, drip, drip.
Sooner or later it will drown him.
Hoyt
(54,770 posts)5. How stupid must the plaintiffs be to believe anything the trumps told them?
niyad
(112,440 posts)6. While I am pleased with the ruling, I have a question for Ithaca. What the hell were you thinking,
Entering into an arrangement with don the con..... Everyone knew his reputation!, yet you did it byway. Greed? Stupidity? Arrogance?
Marie Marie
(9,999 posts)9. Sounds good but please wake me when there are actual consequences.
babylonsister
(170,964 posts)10. Hey, as long as they're going forward. nt