Real estate mogul files suit against Cap Cana resort
Donald Trump has a message for a bunch of developers in the Dominican Republic: You’re sued!
Santo Domingo.- The Donald slapped Cap Cana S.A. and its owners with a $5.8 million-plus suit yesterday for allegedly stiffing him on licensing fees to use his name on the Trump at Cap Cana luxury resort, New York Post reports.
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 $3 million to $12 million each.
The orange-haired 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, New York Post said.
Category: DR News |