Trump’s Panama company evaded tax, claims former partner

US President Donald Trump. Picture: REUTERS/Jonathan Ernst

The accusations were contained in a court filing on Monday by Orestes Fintiklis and his fund, Ithaca Capital Investments, as part of a lawsuit against Trump International Hotels Management. Ithaca assumed control of the property after Trump withdrew from it in March 2018, and a bitter feud over the development has ensued.

“The Trump Organisation did not evade any taxes,” the president’s company said in a statement. “To the extent any taxes were to be withheld, it was the responsibility of the condominium that owns the hotel. The Trump Organisation’s only role was to manage the property.” After the failure of Trump-licensed housing complexes in Fort Lauderdale and Tampa, Florida, for instance, aggrieved partners sued, claiming dodgy tactics. In another case, a group of investors sued Trump, his namesake company and his three eldest children in 2018 alleging they were duped out of hundreds of thousands of dollars by a Trump-promoted multilevel marketing scheme. Trump-branded projects in Mexico, Georgia and Azerbaijan have failed.

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