PANAMA CITY (AP) — A new investigation by The Associated Press reveals that Republican presidential candidate Donald Trump has been fired from managing a massive, branded luxury condominium development in Panama amid allegations of mismanagement, overspending and undisclosed bonuses.
The Panama City Trump Ocean Club is Central America's largest building, constructed to resemble a 70-story ship's sail. The business dispute that occurred this summer offers a glimpse at the workings of Trump's business empire. Trump's managers clashed with condo owners over transparency and spending. Despite the termination, separate Trump licensing and hotel management contracts remain in place.
In an interview with the AP, Trump's son Eric dismissed the allegations of mismanagement as an attempt to sully the Trumps' reputation. He called the Trump Ocean Club an amazing icon and great testament to America.