[ad_1]
According to a new comprehensive report by ProPublica and WNYC, Ivanka Trump has been providing false sales figures for Trump Organization properties in four different countries over the past decade. While promoting the Trump brand properties in Toronto, New York, Baja and Panama, Ivanka made totally false claims to potential investors about the popularity of the properties, particularly with respect to concerns the number of units sold and their price.
Neither the White House nor the Trump organization have responded to Bustle's request to comment on the allegations in ProPublica and the WNYC report.
The ProPublica and WNYC report focuses on how Donald Trump and his family members presented Trump Organization's developments to investors, as well as the gaps between these representations and the truth. The investigation revealed that Donald had frequently misrepresented his involvement in such properties, sometimes falsely claiming he was an investor in properties for which he had no equity. while promoting them.
For example, in an interview with CBS News in 2009, Ivanka stated that the Trump International Hotel in Toronto was "virtually exhausted". This was not the case: at the time, only 24.8% of the units in the building had been sold, according to a bankruptcy filing filed seven years later. She repeated this statement in a promotional video for the Trump Ocean Resort in Baja, Mexico, a property that was never opened and eventually resulted in a lawsuit against Donald. She said the Toronto hotel was "sold".
In fact, this Toronto property has never been sold. According to ProPublica and WNYC, the bankruptcy of the company in 2016 was still empty.
Ivanka also lied about Trump SoHo sales figures in New York. another condemned family property. In 2008, while she was talking about the condominium building to reporters, she claimed that 60% of her homes had been sold. In fact, only 15% were sold at the time. This property, like that of Toronto, eventually went bankrupt; Trump's name has been removed from his buildings and is now called Dominick.
In March, a video clip named Trump being eliminated from another failed company, the Trump Ocean Club of Panama City, went viral. Ten years earlier, Ivanka had made several false statements by promoting this property, saying Contractor that Trump Organization had "sold more than 90%" units in the building of 1,000 units and, for a "500% premium to all that the luxury market had known before our entry into the market".
That was all wrong. Months later, Moody's reported that in fact, only 79% of the units in the building had potential buyers. But even these units had not yet been "sold": they were under contract of purchase, which meant that investors had paid a small deposit on them in order to buy them later. But the majority of these purchase contracts – 57%, according to figures from ProPublica and WNYC – were subsequently dropped, as the project collapsed, potential buyers sacrificing their down payments and allowing them to reduce their losses.
What's more, Ivanka has significantly inflated the value of these units; ProPublica and WNYC concluded that they had been sold at 500% at the price of "everything the luxury market had known before entering the market". percent the price of comparable properties at the time.
The report contains other erroneous statements by Ivanka. According to a complaint cited by Univision, more than 50 buyers of the failed Baja property claimed that Ivanka had told them that Trump Organization was a developer on the project, whereas in fact it was not not the case; In the 2009 interview of CBS News, which was conducted after the implementation of the project, Ivanka explicitly stated that "we are not the developer". Ivanka also stated in an interview in 2008 that she had personally sold 40 units in the Panama property; Jack Studnicky, one of the leading realtors in this project, told ProPublica and WNYC that he did not remember that she had sold units.
In addition to the allegations concerning Ivanka, the ProPublica and WNYC surveys also contain detailed information about Donald himself, as well as various misrepresentations he has made when promoting his properties over the years.
