Trump drops his Brazilian hotel after corruption claims
It’s not secret that President Elect Trump has been under fire as of late for his potential conflicts of interest stemming from his yuge business empire all over the world. Now, his up and coming luxury hotel in Rio de Janiero is undergoing some fraud claims of it’s own.
The Trump Hotel Rio de Janiero has just had the Trump name removed from it’s facade, and all mention of the hotel has been removed from the Trump websites.
According to the Washington Post:
The 170-room Trump Hotel Rio de Janeiro, a modern, triangular structure with the Trump name on top, is owned by a Brazilian developer whose former chief executive is Paulo Figueiredo Filho, grandson of the last president under Brazil’s 1964-1985 military dictatorship. The hotel had partially opened in June, just weeks before the Summer Olympics, in the upscale Barra de Tijuca neighborhood where the Olympic Park and Athletes’ Village were located.
In pulling out of the project, the Trump firm cited delays in the construction of the hotel and differences with the developers in “vision.”
“Vision…” If by vision you mean that the Brazilian federal prosecutors are investigating some of the pension fund investments into the property. Oops.
The young former cheif executive even shows off on Facebook about his relationship with the now President-Elect. The caption “You’re Fired” is kind of ironic and bitteresweet now, isn’t it?
The hotel was SUPPOSED to be fully operational by the Olympic games, but to this day it’s still covered in scaffolding and only around 60% done.
I can only imagine that this is going to be the beginning of a long string of “separations” between Trump and some of the more questionable business investments throughout the world as Trump, in his own words, moves the running of his business over to his adult children. This should be interesting…
To read more and for the full post with details, go over to the Washington Post article here.