Investors lose 32 Million from Donald Trump Condo Investment

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Investors lured by the aura of Donald Trump lost more than $32 million in a failed venture in Mexico.

 

 

BY ELLIOT SPAGAT
ASSOCIATED PRESS
SAN DIEGO — Trump flop in Mexico cost backers millions

Stephen and Linda Drake cast aside concerns about owning property in Mexico because they believed in Donald Trump.

The Southern California couple paid a $250,000 down payment on a 19th-floor oceanfront condo in Trump Ocean Resort Baja in 2006 before the first construction crew arrived.

But admiration for the celebrity developer and star of The Apprentice has now turned into anger and disbelief as Trump’s luxury hotel-condo plan collapsed, leaving little more than a hole in the ground and investors out of their deposits, which totaled $32.2 million.

Full Article 

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