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WEDNESDAY, NOVEMBER 25, 2009
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Trump Sues Over Israeli Condo Deal

Says builders made $36M on his name —without building

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(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.

This March 31, 2008, file photo shows Donald Trump arriving for a gala benefiting Figure Skating In Harlem at Central Park's Wollman Rink in New York.
This March 31, 2008, file photo shows Donald Trump arriving for a gala benefiting Figure Skating In Harlem at Central Park's Wollman Rink in New York.   (AP Photo)
Donald Trump walks the red carpet at the 2008 Miss USA Pageant, Friday April 11th, 2008, at The Planet Hollywood Resort & Casino in Las Vegas.
Donald Trump walks the red carpet at the 2008 Miss USA Pageant, Friday April 11th, 2008, at The Planet Hollywood Resort & Casino in Las Vegas.   (AP Photo/Eric Jamison)
From their vantage point aboard an architectural tour boat, passengers can see Chicago's nearly-completed Trump International Hotel & Tower, left.
From their vantage point aboard an architectural tour boat, passengers can see Chicago's nearly-completed Trump International Hotel & Tower, left.   (AP Photo/Nam Y. Huh)
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