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DonViejo

(60,536 posts)
Fri Oct 28, 2016, 09:40 AM Oct 2016

Brazil prosecutor says Trump franchise may have benefited from corruption

Source: Reuters

28 OCT 2016 AT 09:12 ET

A Brazilian prosecutor investigating potentially corrupt investments made by state pension funds said the real estate company run by Republican presidential candidate Donald Trump appears to have benefited “suspiciously” from a massive redevelopment of Rio de Janeiro’s port ahead of the Olympics.

The development, known as Porto Maravilha, or Marvelous Port in Portuguese, cost 8 billion reais ($2.5 billion) and developed run-down docklands into a plaza, museums, corporate and residential real estate. As part of the project, five 38-story buildings were meant to be erected under the Trump brand.

Public prosecutor Alselmo Lopes said in a court filing made public on Thursday that he is investigating the Porto Maravilha deal, in which the national employee severance fund FGTS, managed by state-bank Caixa Economica Federal [CEF.UL], paid up-front for building rights which it then sold on.

The structuring of the Porto Maravilha deal “favoured, in a suspicious way, the Trump Organization economic group”, among others, Lopes said. The prosecutor gave no further details and was not immediately reachable for comment.

-snip-



Read more: http://www.rawstory.com/2016/10/brazil-prosecutor-says-trump-franchise-may-have-benefited-from-corruption/

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Brazil prosecutor says Trump franchise may have benefited from corruption (Original Post) DonViejo Oct 2016 OP
"Two of the five Trump Towers were supposed to be ready by the Olympics, but ground has yet to be yellowcanine Oct 2016 #1
What person involved in big business doesn't benefit from corruption in Brazil? Chakab Oct 2016 #2

yellowcanine

(35,692 posts)
1. "Two of the five Trump Towers were supposed to be ready by the Olympics, but ground has yet to be
Fri Oct 28, 2016, 10:52 AM
Oct 2016

broken."

On Schedule and Under Budget! USA! USA!

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