Trump Sues Israeli Developer
DONALD TRUMP has filed suit against an Israeli developer who allegedly used his name to boost sales of a luxury property development - demanding a share of the profits.
The real-estate mogul has filed legal papers at Manhattan Supreme Court claiming he licensed the name Trump Plaza to luxury condo builder, Crescent Heights Diamond, for the construction of a 70-storey tower in Israeli capital Tel Aviv.
Trump allegedly signed a deal giving a 25 per cent share on each unit sold in return for the use of his brand name.
But the company later sold the $44 million (GBP22 million) land to another development company for $80 million (GBP40 million) and Trump insists he deserves a slice of the $36 million (GBP18 million) profit.
He tells The New York Post, "They (Crescent Heights Diamond), announce with tremendous fanfare that Trump is their partner. Then, instead of building, they flip the site. They used my name to pump up the value, then made a big profit.
"We put this site on the map, and under the contract they are obligated to complete the project. They are not good representatives for the great state of Israel and they should be ashamed of themselves."
Crescent's lawyer Saul Sack refutes the claims, saying Trump "is not entitled to any compensation", adding, "The lawsuit is without merit."