Trump Org. partner in India accused of elaborate swindle
NEW DELHI (AP) -- An Indian company that is partnering with the Trump Organization on an office tower project has been accused of running an elaborate real estate swindle that cheated investors out of nearly $150 million, according to complaints filed with Indian authorities.
Ramesh Sanka, the former CEO of the real estate firm IREO, said in the documents obtained by The Associated Press that he saw "various acts of cheating, fraud and misappropriation of money" at his onetime employer that created "huge wrongful gains" for the company's managing director and his associates.
In a statement at the time, Donald Trump Jr. said, "IREO is truly a fantastic group and we are looking forward to pushing the boundaries together to create what will soon be one of the most exciting and sought-after commercial towers in India."