A Hong Kong-based investment group tacked a bogus $17 million "finder's fee" onto a huge city real estate deal, according to the Manhattan district attorney's office, the New York Daily News reports.
Hudson Waterfront Associates, a group of five limited partnerships backed by more than a dozen Chinese investors, sold a 77-acre Riverside South property for a record $1.76 billion in 2005. Donald Trump owned a one-third stake in the property.
Hudson charged the buyers a $17 million "finder's fee".
In this type of scam, Hudson would have collected the finder's fee money, but the buyers, Extell Development and The Carlyle Group, would have written the check directly to Hudson that Trump was obvioulsy not made aware of. Hmmm. Trumps cut would have been $5 million.
"I'm not going to comment," Trump told the New York Daily News. "It speaks for itself."
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