Trump Involved In Drug Money Laundering
To Trump and his supporters, this is probably "fake news."
A recent report by Reuters and NBC News shows that POTUS Donald Trump has been making millions by laundering drug money. According these articles, drug cartels and other international criminal organizations have into the Trump Ocean Club International Hotel and Tower in Panama City. Why, you may ask?
The report showed that investors and customers “with questionable backgrounds” bought into the hotel, either pre-construction or finished units. The Ocean Club International Hotel and Tower were supposedly built for cleaning money made from the international drug trade. The practice was allegedly lead by Brazilian real estate salesman, Alexandre Ventura Nogueira, who is said to have earned Trump tens of millions of dollars.
The report stated, “In the case of the Trump Ocean Club, accepting easy—and possibly dirty—money early on would have been in Trump’s interest; a certain volume of pre-construction sales was necessary to secure financing for the project, which stood to net him $75.4 million by the end of 2010."
However, it is still up in the air whether or not Trump knew that his properties were being used to clean drug money. Nonetheless, the non-profit organization, Global Witness, made some good points in their report. Although he may not have been aware, Trump did not do anything to prevent his properties from being involved in money laundering. In fact, because of how the profits were distributed, that gives even more reason to suspect that the Panama properties were built with the sole intention of financially benefiting Trump. "What is clear," the report states, "is that proceeds from Colombian cartels' narcotics trafficking were laundered through the Trump Ocean Club and that Donald Trump was one of the beneficiaries.”
When the Trump administration was asked about the situation, the entourage denied direct connection to Panama. Trump’s chief legal officer, Alan Garten, has even gone so far as to say that team Trump has absolutely no recollection of doing business with anyone named Alexandre Ventura Nogueira. “The Trump Organization was not the owner, developer or seller of the Trump Ocean Club Panama project. Because of its limited role, the company was not responsible for the financing of the project and had no involvement in the sale of units or the retention of any real estate brokers," Garten said.
In the end, the deals connected to the Trump Ocean Club International Hotel and Tower seem to be on a don't ask, don't tell policy, although Trump said himself that they "sold like hotcakes." Investors ended up losing money in the project but Trump made anywhere between $30-50 million.