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July 25, 2008 12:36:14 PM CDT

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Trump Sues Over Israeli Condo Deal

Posted May 16, 08 9:19 AM CDT in Business,  Gossip 

(Newser) – Nobody makes a sucker out of Donald Trump…at least not without getting sued. Trump is taking an Israeli condo developer to court, saying the company profited off his name without giving him a cut. The developers made a deal to build a 70-story Trump Plaza residential and commercial tower on property they bought for $44 million, and agreed to send its namesake 25% of the sale price of each unit. But instead they flipped the site for a cool $36 million profit.

“They used my name to pump up the value, then made a big profit. We put this site on the map,” an enraged Trump told the New York Post. “They are not good representatives for the great state of Israel and they should be ashamed of themselves.” The developers’ lawyer says Trump’s lawsuit is groundless.

Source New York Post

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