We were never made aware of the Infidel-in-Chief’s help in doing major damage to the Puerto Rican economy in 2008. Trump International entered into an arrangement with the owners of Coco Beach Golf & Country Club, a resort and golf course that had opened in 2004 on the northeast coast of Puerto Rico.
The club was in trouble, financially, and Trump agreed to “help out.” Under the agreement, Trump International licensed the Trump name to the owners, renamed the course, Trump International Golf Club Puerto Rico and took on the resort’s day-to-day management in exchange for a fee of $600,000.
Puerto Rico’s financing authority, AFICA, issued $25,497,854 in bonds, in 2000 in addition to Puerto Rico’s Government investing $50 million for the attached Hotel Gran Melia in 2004. In 2011, they defaulted on $26 million in bonds. The result left Puerto Rican taxpayers on the hook for the better part of $33 million. Trump International, of course, claimed no responsibility.
Trump Taj Mahal, anyone?
Comments
Post a Comment