Donald Trump’s business is running for the hills from a hotel venture in Brazil after the heat was turned up by a Brazilian prosecutor’s investigation into bribery and extortion.
The beachfront property named “The Trump Hotel Rio de Janeiro” has been an ongoing project of Trump’s real estate empire which began in 2014. Trump’s company had been managing the 170 room luxury hotel. Trump’s company is removing themselves from the business in a bid to protect themselves from the findings of Brazilian prosecutor, Anselmo Lopes, in an investigation which has been ongoing since late October.
The investigation conducted by Lopes began after $40 million was invested in the hotel by two small Brazillian pension funds, Serpro and the Igeprev fund for the employees of Tocantins state, respectively. Lopes said, “Investing amounts of such size, for these relatively small pension funds, breaks principles for diversification and liquidity. It is necessary to verify if the favoritism shown by the pension funds towards LSH Barra Empreendimentos Imobiliários SA and The Trump Organization was due to illicit payments and bribes.”
Trump offering bribes to get his way? It was recently reported he offered bribes of U.S. ambassadorships to music executives if they could find him a popular performer to play at his inauguration. If Trump was willing to offer official governmental positions to get a singer to perform a song, imagine what he would have done to move forward a multi-million dollar hotel project.
In a bout of stonewalling, Trump’s team has refused to comment if their decision to leave the Brazilian hotel deal was influenced by the investigation. One can draw their own conclusions, and the best predictor of future behavior is past behavior. Trump’s dirty and any individual with a semblance of intelligence can see that — this is just another example which offers confirmation.
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