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15 Mar

One Has Got To Love This

Donald Trump Sued By Buyers Of Failed Luxury Condo Project

ELLIOT SPAGAT | March 13, 2009
Full Article

SAN DIEGO — Donald Trump was sued Friday by buyers who lost millions of dollars in deposits on a failed hotel-condo in the Mexican border city of Tijuana.
The 69 buyers purchased 71 units in Trump Ocean Resort Baja and paid deposits totaling between $18 million and $20 million, said Bart Ring, their attorney.
Buyers were told last month that the luxury oceanfront project was being scrapped and that there was no money left to refund deposits. In December, they were told the project had only $556,000 left after collecting $32.2 million in buyer deposits.
The 197-page complaint filed in Los Angeles Superior Court seeks unspecified damages against Trump, his children Ivanka and Donald Jr. and others including Los Angeles developer Irongate Capital Partners LLC.
The lawsuit accuses the New York real estate developer and reality television star of fraud, negligence, unjust enrichment and violating federal disclosure laws.

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