Trump Sued in Tampa

Trump Tower Tampa Buyers Say They Were Bilked by The Donald in Suit Filed by Clark & Martino PA and Williams Schifino Mangione & Steady PA

TAMPA, Fla.–(BUSINESS WIRE)–Donald Trump is in hot water again – this time in Tampa where Trump Tower Tampa buyers allege that the real estate mogul misrepresented his stake in the ill-fated condominium development in Downtown Tampa and committed fraud to line his pockets with their hard-earned dollars. In a suit filed jointly on Nov. 12, 2009 by Daniel Clark of Clark & Martino PA and Kenneth Turkel of Williams Schifino Mangione & Steady PA, the 30 plaintiffs in the complaint are seeking damages on several different counts including an Interstate Land Sales Full Disclosure Act (ILSA) violation, negligent misrepresentation and fraudulent misrepresentation. Similar, but not identical, suits against Trump were recently filed in Miami, Florida and Baja California. (click here for the entire release)

Comments:  It should come as no surprise to anyone that a lawsuit became official.  We reported the news of the  foreclosure on the property earlier this year. For months there have been rumblings from investors that they had been misled by Trump and SimDag, the developer.  Earlier this month, James Thorner of the St Pete Times wrote an article about the posturing on the project.  To quote Mr. Thorner, ” Considering how many rich people lost money on Trump Tower Tampa, it’s almost surprising it didn’t happen sooner.”  Yup…that pretty much sums it up.