- While President Trump has Promised
to avoid any new overseas deals while in office,
potential new arrangement between the Trump Organization
and a developer in the Dominican Republic
has raised concerns about the validity of that promise
and potential conflicts of interest.
Here's why this matters.
Over a decade ago, a deal was struck
between the Trump Organization
and the powerful Cap Cana group,
which is a real estate developer in the DR,
for a luxury project in the southeast part of the island.
Amid the recession and an ugly legal dispute
between the two parties, the project stalled
and the broken ground has since laid dormant.
So it came as a bit of a surprise when Eric Trump
visited the Cap Cana group to reignite the deal
less than two weeks after his father was inaugurated.
When the Trump family attorney had said,
"No new foreign deals would be made
"during the duration of Trump's presidency,"
the organization's lawyer had told me it's not a new deal,
insisting that it's a project to be developed over time.
But what's interesting is not the deal itself,
but what could appear to be a sign
of the influence of the Trump Organization
over a local government.
In October a height proposal was introduced
that dramatically increased the long-standing restrictions
on buildings in the coast from four stories to 22 stories.
The proposal was reportedly made in part
of the request of the Cap Cana Group, Trump's partner,
and would benefit hoteliers
who could pack more high-priced condos into them.
The country's tourism minister flatly denies
that the Trump campaign had anything to do
with the height increase proposal,
but if implemented, the organization
would definitely benefit from it.
The issue has become so charged
that the decision on whether to approve
the Trump-affiliated project has even reached
the desk of Dominican President, Danilo Medina
and government sources tell me
that when it comes to the height increase proposal,
it's on everyone's mind that it could help Trump
and herein lies the problem.
Even if indirect, the Trump Organization
has a lot of power in the DR,
as the presidents close the financial stake in the company,
and the U.S. bodes a great deal of influence
on its small neighbor.
And with properties in several countries around the world,
potential conflicts of interest pertaining to this president
should not go unnoticed.
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