User Rating: 5 / 5

Star ActiveStar ActiveStar ActiveStar ActiveStar Active
Donald Trump sues Caribbean resort developers
The 66-year-old billionaire has slapped Cap Cana S.A. and its owners with a $5.8million-plus suit.

SANTO DOMINGO, Dominican Republic, Wednesday August 29, 2012 – American tycoon Donald Trump suspended his signature line “You’re fired!” just long enough to send a strong message to a group of delinquent developers in the Dominican Republic.

“You’re sued!” was the word from The Apprentice star.

The 66-year-old billionaire has slapped Cap Cana S.A. and its owners with a $5.8million-plus suit for allegedly stiffing him on licensing fees to use his name on the Trump at Cap Cana luxury resort, according to a New York Post report.

It said the 8,000-acre, oceanfront project was launched in 2007 with sales of the Trump Farallon Estates at Cap Cana, a gated community of 68 lots costing between $3 million and $12 million each.

The much-married mogul says he personally appeared at the sales event, and featured the project on the sixth season finale of his TV show The Apprentice.

But the developers abruptly stopped sending monthly sales reports to his Trump Marks Real Estate firm after the start of the 2008 financial meltdown, Trump charges.

“Even more egregiously, however, in or about May 2009, Cap Cana claimed that it had squandered the funds that it had received from buyers and lacked sufficient capital to pay Trump Marks any portion of the license fees which were admittedly owed months earlier,” the suit says.

Cap Cana didn’t return an email seeking comment, according to the New York Post. Click here to receive free news bulletins via email from Caribbean360. (View sample)

Source ...

Leave your comments

Post comment as a guest

terms and condition.

People in this conversation

Load Previous Comments