Do You Know The Truth About Trump?
Trump likes to brag about how much money he has but he never tells people about the BILLIONS he's bilked out of banks, bond companies and regular people. Trump ripped off people of their savings in the amount of $200,000 - $1,000,000 when he took their deposits to build a high rise condo resort in Baja Mexico and left them with nothing but a hole in the ground. Since it's in Mexico the people who bought into Trump's con have little hope of ever recovering any of their down payments.
Trump has had 19 failures in less than 17 years… that
averages one new failed business every 11 months. Even worse, a LOT of
people were financially ruined because of this single "successful"
Trump Plaza Hotel bankruptcy – On Nov 2, 1992,
Trump's Plaza Hotel was forced to file Chapter 11 bankruptcy protection
after being unable to make its debt payments. Under the plan, Trump
agreed to give up a 49% stake in this luxury hotel to Citibank and five
Trump Shuttle closure – The Trump Shuttle became no more when it merged with Shuttle Inc, operating as USAir Shuttle in 1992.
Donald Trump personal bankruptcy – By 1994, Trump
slashed a large portion of his $900 million personal debt and washed
away $3.5 billion in his porfolio's business debt.
Trump Hotels & Casino Resorts' bankruptcy – On
November 21, 2004 Trump's company filed for bankruptcy. Trump said the
filing was "really just a technical thing" as the best way to implement a
Donald Trump personal bankruptcy (again) – Once again, Trump filed for personal bankruptcy protection and restructured his debt in 2004.
Taj Mahal bankruptcy – On November 22, 2006 Donald
J. Trump’s casino empire filed for bankruptcy protection after months of
negotiations with bondholders over restructuring a crushing debt.
GoTrump.com – Donald Trump's online travel search engine was launched in 2006. Just a year later it folded.
Trump 29 Casino – Now known as Spotlight 29 Casino because Donald Trump's ownership/management involvement ended in 2006).
Donald Trump Ocean Resort Baja – This Mexican resort
was never built and investor's deposits (up to $500,000.00) have not
been returned. Trump claims these buyers are “lucky” because they would
have lost more money in a tanking market had the projects been actually
Trump Towers Tampa – Trump is being sued right now
in Tampa, Florida for taking deposits on a 52-story condo tower that he
never built. None of the buyers got their $45,000 deposits back. And in
an ironic twist, initial sales of this condo were so successful that all
deposits were returned to charge a higher price.
Trump International Hotel and Tower Chicago – Trump
built the second tallest building in Chicago… he also defaulted on a $40
million loan. Rather than having to pay the bank loan, Trump demanded
the same bank should pay him $3 billion for "undermining the project and
damaging his reputation."
Trump Magazine - Trump's private-labeled publication
(which was aimed at affluent readers in major US markets) suffered from
sagging ad sales. It folded on May 19, 2009. This was Trump's third
failed attempt at offering a magazine bearing his name.
Trump International Hotel & Tower New Orleans – If
constructed, this Trump Tower would become the tallest building in the
city of New Orleans and the state of Louisiana at 70 stories high. But
the project was put on hold in February of 2009.
Trump Entertainment Resort Holdings bankruptcy – On
February 17, 2009 casino operator Trump Entertainment Resorts Inc filed
for Chapter 11 bankruptcy protection (with a debt ratio of $50 million
in assets to his $500 million in debt).
Donald Trump SoHo Hotel Condominium – Donald Trump
was sued for fraud over his New York SoHo condo offering in 2010. The
lawsuit by 15 plaintiffs alleged that during the first 18 months of
marketing, Trump advertised that the building was "30, 40, 50, 60
percent or more sold" when in fact just 16% of the units were sold.
Trump Ocean Resort Baja Mexico – Instead of a
525-unit luxury vacation home complex with pools and tennis courts, this
project is shaping up to be a legal battle with a big hole in the
ground. Dozens of angry buyers sued Trump for failing to complete the
project. Trump claims he only lent his name to the project (and it was
the developers who allowed the project to fail).
Trump International Hotel & Tower Fort Lauderdale – Construction
was to be completed by the end of 2009 featuring 298 hotel condominium
units. Having defaulted on a $139 million loan, Donald Trump announced
in November of 2010 he was no longer affiliated with the project.
Trump International Hotel & Tower Las Vegas – Through
the end of February 2010, the 1,282-unit condominium hotel had only
closed on 302 units. That equates to a 23.6% vacancy rate. It was forced
into renting out the building as apartments.
Trump International Hotel & Tower in Dubai – This
62-story mixed-used building on the Palm Jumeirah’s Golden Mile was
first announced in 2005. Construction was never started and the $2.9
billion project had been canceled and replaced with a shopping mall.
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