Showing posts with label resort. Show all posts
Showing posts with label resort. Show all posts

Tuesday, May 25, 2010

The Trump Ocean Resort Baja Mexico - you have to read to believe it

In 2006, Trump’s company was selling condo’s at Trump Ocean Resort Baja. Before construction on the property even began 188 units were sold for $122 million in one day at a December. Units for the Mexico property were selling for $300,000 to $3,000,000 and buyers had to put down 30%. In 2009, Trump removed his name from the property and the project has folded. The buyers were left with nothing. No property, no refund.

The sellers prevented significant information from the people who bought the units. There were many important details that were left out, as well as false information that was given. Buyers can’t be blamed for this! That is a civil issue! The buyers believed that the units were “Trumps property”, whereas Trump simply licensed his brand to another company. In fact, he wasn’t even an investor. In addition, the state of the company was not as good as the buyers were led to believe. They may have been able to demand their money back if only they had known so.

People who spoke against Trump in this case:

Anonimus – “After the Donald screwed thousands of investors and banks out of hundreds of millions in Atlantic City directly due to poor management, how can anyone believe in him?? The net, twitter etc., are fraught with schemes to get rich quick all fronted by the Donald. The only one that may prosper is, guess who, the Donald. I simply don’t trust him. If you are in the magnificent one’s presence watch your wallet.”

A group of seven individuals filed (March 2010) a $10M lawsuit against Donald Trump, Donald Trump Jr., Ivanka Trump and others for fraud, negligence, accounting and other counts. Their claims:
1. They were swindled by Trump. They were led to believe that Trump was directly involved when instead it was a licensing deal. The lawsuit produces evidence including newspaper stories to prove that the project was widely known as a Trump project and that Ivanka Trump and Donald J. Trump, Jr. attended key sales events for the project and announced that they would be purchasing units in the project.
2. Trump and the developer Irongate did not have financing and construction permits approved before the sales.
3. The site itself had contamination and mold issues.
4. There is an allegation that certain "favored" buyers were allowed to purchase without a deposit while others including the plaintiffs were forced to tender hefty sums before purchase.

Claims about the resort being located in a polluted area (December 2006) - North of Baja's Punta Bandera, 30 million gallons of sewage are discharged daily on the beach. Prospective buyers should be informed, so they can ask developers about health risks and sewage collection.
http://www.radaronline.com/sites/default/files/trumpcourtdocs38.pdf