Trumplestiltskin™ is suing Trump Ocean Club in Panama after directors called an urgent business meeting July 28 to fire him. Why? In the past four years that Trump Panama Condominium Management LLC managed the property, a team put in place by the Trump family is accused using more than $2 million in unauthorized debts, paying its executives undisclosed bonuses and withholding basic financial information from owners. After all, it was the building’s residents and condo owners that originally invested in the namesake, a 70-story waterfront tower along Panama Bay, on Trump’s reputation. Clearly they hadn’t done their research after all his many bankruptcies.
In true Republican spirit, he not only misused $2 million of their money, he expected them to pay for it! In May, building investors and residents wised up and declined the Trump-backed proposal that planned to recoup the more than $2 million of building administration debt through a special assessment on the owners.
Trump is a smooth talking, deceitful con-artist, much like the fox he wears on his head. He was able to do all this due to fine-print chicanery, according to the board. There was a clause in many residents’ purchase agreements that prevents them from voting against the Trump company’s wishes. That allowed Trump to install their top employee as chairman and the residents’ representative on the board.
They had to have known Trump would have a tantrum. He is demanding as much as $75 million each of the condo owners in Panama City’s Trump Ocean Club. The lawsuit is targeting hundreds of owners. Trump is claiming that his company was wrongfully fired.
Trump alleges criminal conspiracy as to why his management company is being removed from its unpaid position as building administrator. Seriously? His company was mishandling funds and withholding important financial information. I’d say that sounds pretty criminal to me.
This is no surprise to me. Trump has proven time and time again that he is unfit to run a company, let a lone a country. He claims all his previous bankruptcies were good business decisions. I’ll give him that, but at the end of the day, those decisions left those businesses drained and his pockets fat! Businessmen are out for themselves and a great president is for the people.
Featured image via video screenshot