Trump Tower promoter accused of racketeering

TRD MIAMI /
Jul.July 02, 2012 03:00 PM

The promoter of the failed Trump International Tower in Fort Lauderdale, Felix Sater, is accused of swindling the project out of millions, while allegedly paying $1.5 million to an associate with ties to the mafia, according to the Miami Herald. When Sater joined the Trump project he had already been charged in a securities scam with New York mob figures worth $40 million. However, Trump investors never knew about Sater’s criminal background because prosecutors successfully hid his records from the public after he became an FBI informant.

The Trump Tower sold for $100 million at auction in March. “Do you honestly think they [Trump investors] are going to invest in a project when you tell them that one of the people happens to have been involved with the mob? That’s insane,” said Joseph Altschul, a lawyer representing the Trump Tower investors. Sater was also charged and imprisoned in the 1990s for allegedly stabbing another broker in the face with the stem of a shattered margarita glass during a bar fight. [Miami Herald]


Related Articles

arrow_forward_ios
One Sotheby’s names SVP of marketing

One Sotheby’s names SVP of marketing

One Sotheby’s names SVP of marketing
Karen Elmir, Camilo Franco, and Caitlyn Henderson

Movers & Shakers: Elmir Group launches CRE division, Pablo Alfaro team grows

Movers & Shakers: Elmir Group launches CRE division, Pablo Alfaro team grows
Sawgrass International Corporate Park

Brookdale buys back Sawgrass Park portfolio for $80M

Brookdale buys back Sawgrass Park portfolio for $80M
Paseo de la Riviera and Industrious CEO Jamie Hodari  

Industrious to open at Paseo de la Riviera in Coral Gables

Industrious to open at Paseo de la Riviera in Coral Gables
Daniel Crann and Timothy Peterson (Credit: iStock)

Movers & Shakers: Colliers taps development services head, Altman promotes COO & more

Movers & Shakers: Colliers taps development services head, Altman promotes COO & more
Steven Hurwitz and Doug Okun

Former CREC brokers join JLL as managing directors

Former CREC brokers join JLL as managing directors
Alirio Torrealba and Daniel de la Vega with Biltmore Square

One Sotheby’s takes over remaining sales of Coral Gables boutique projects from Fortune Realty

One Sotheby’s takes over remaining sales of Coral Gables boutique projects from Fortune Realty
AC Hotels by Marriott in Fort Lauderdale and Inigo Ardid

Key International scores construction loan for new Fort Lauderdale Beach hotel

Key International scores construction loan for new Fort Lauderdale Beach hotel
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...