Report: Trump’s failed condos and resorts lost hundreds their money while he made millions
Among Donald Trump’s failed businesses are real estate developments where buyers were left holding the bag.
Click here for reuse options!When Stephenee Simms heard in 2006 that Donald Trump was building condo towers in Baja, the lure of a posh weekend getaway on the rustic coast just south of Tijuana was hard to resist.
Simms, then an aerospace purchasing agent living in Canoga Park, said she used her life savings to pay a deposit of just over $50,000 for unit No. 602, a one-bedroom overlooking the Pacific…
In the end, nothing at all was built at Trump Ocean Resort, and Simms lost her money. As did about 250 other buyers, most of them from Southern California.
All told, two years of aggressive marketing yielded $32.5 million in buyer deposits, every bit of it spent by the time Trump and his partners abandoned the project in early 2009 as the global economy was reeling. Most of the buyers sued them for fraud.
The Trump Baja fiasco fits a pattern in the Republican presidential candidate’s business record. Over decades of building a business empire in real estate, casino gaming, golf resorts, reality television and the sale of clothing and other merchandise, Trump has left a long trail of angry customers and vendors who accused him in court of cheating them.
Condo buyers at troubled Trump towers in Tampa and Fort Lauderdale, Fla., claimed in lawsuits that they too were misled and lost deposits. Students at the defunct Trump University say in fraud suits that they wasted money on worthless real-estate training. Trump’s string of business bankruptcies has stuck suppliers with unpaid bills and banks with uncollectible debts.
Trump has denied wrongdoing in every case, and he argues in the campaign that his success as a businessman qualifies him to run the country.
Copyright 2016 Liberaland
25 responses to Report: Trump’s failed condos and resorts lost hundreds their money while he made millions
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whatthe46 June 27th, 2016 at 21:13
but, he’ll tell you Hillary is crooked and a liar.
leDaver June 28th, 2016 at 00:19
He says that often and loudly, so that people won’t look too closely at the shady dealings he has allegedly been involved in over the years. A good offense so he doesn’t have to play defense. So far it’s working.
whatthe46 June 28th, 2016 at 00:34
it’s not working with people whose brain cells are actually functioning. thus, his poorly educated, ignorant, like minded racist and bigoted followers, well, theirs aren’t working.
mea_mark June 27th, 2016 at 21:14
tRump, Gifter and Cheater in Chief of the US … Yup, it looks like we could all go to hell.
Frank Foster June 27th, 2016 at 21:27
And part of America believes this man should be president?
whatthe46 June 27th, 2016 at 21:31
thankfully, it’s a very small part.
Chris June 27th, 2016 at 21:41
What should horrify us is that a good portion of THIS population thinks he’s a nut, but that he should be allowed to “shake things up”, whatever that means.
Read this and weep for America: http://www.theatlantic.com/politics/archive/2015/08/donald-trump-voters/401408/
burqa June 27th, 2016 at 21:49
Scott Ferrall can shake it up and I’m fine with it.
Same with Ron Bennington.
Not with Trump.
whatthe46 June 27th, 2016 at 21:53
i refuse to read that. i appreciate your taking one for the team.
The Original Just Me June 27th, 2016 at 22:18
The Lower Half.
Ron Theison June 27th, 2016 at 22:44
Yep, about the same part that thinks Hillary should be the Prez.
Obewon June 28th, 2016 at 01:47
What if neoklansman Donnie fades out? Any other klansman favorites? Are you a TrumpU Alumni?
whatthe46 June 28th, 2016 at 02:18
you damn fool.
burqa June 27th, 2016 at 21:46
OP: Report: Trump’s failed condos and resorts lost hundreds their money while he made millions
That’s soooooo Mitt Romney…………….
amersham1046 June 27th, 2016 at 22:04
time after time , some people never learn
whatthe46 June 27th, 2016 at 22:19
unfortunately most of, if not all, of the law suits that were brought against him were never made public, so that others could have been put on notice. every law suit won by the plaintiffs against him, weren’t paid out because he’d file bankruptcy. damn shame.
The Original Just Me June 27th, 2016 at 22:18
Sounds about Trump—-ERR Right.
Ron Theison June 27th, 2016 at 22:43
Sounds like Hillary and Bills life story. Cattle futures, board member of Walmart, Whitewater, the Clinton Global Initiative, Willies 16 million payday for being a Chancellor for a rip off university (yes it’s true). They make the big bucks while everyone else gets the shaft.
whatthe46 June 28th, 2016 at 00:12
you’re funny. but, in a stupid kinda way.
Warman1138 June 28th, 2016 at 01:17
All have been disproven……..so why do you bother.
whatthe46 June 28th, 2016 at 01:26
cause, that’s what lying asswipes do, lie.
Warman1138 June 28th, 2016 at 01:35
Lol.
whatthe46 June 28th, 2016 at 01:37
i just responded to your post above and i’m so ticked off. disqus just deleted my entire post after i clicked post. it went “error.” ahhhhhhh
whatthe46 June 28th, 2016 at 01:39
do you think that thing even reads the responses?
Warman1138 June 28th, 2016 at 01:15
I wonder how often court records and dealings were sealed in Trumps many excursions and how much has been ignored by the news in place of his ”fame”. Seems to me if people knew how often he has failed to produce they would not risk their money under his auspices. They say a fool and his money are swiftly parted but if information is hidden and hype is substituted by media, it’s hard not to be the fool. Even now it almost seems like the news shows are trying to cater to Trump for ratings while bringing up endless, baseless innuendo with the Clintons for ratings. Has the news become nothing more than a revenue machine to sell advertising at the cost of an informed public? And if so, cheated investors and others are not just victims of Trump but media as well.