Thread by @karolcummins

Trump Ocean Club Panama

This is a soon to be relevant overview, as I am sure the SCO is following the money surrounding Trump’s Ocean Club Panama aka Ivanka’s “baby.”

Likely Cohen & Weisselberg have been questioned extensively regarding Trump Panama.

“Trump’s involvement in the Ocean Club began in 2005, when local developer Roger Khafif travelled to Trump Tower in NY to pitch the idea of a Trump project in Panama.

Khafif said he told Trump would need only to license his name & provide hotel mgmt.”
reuters.com/investigates/s…

📌Khafif recalled that Trump wanted to use the Panama project as a “baby” for his daughter Ivanka, who had just joined the Trump Organization, to gain experience in the property business.
reuters.com/investigates/s…

“The plan was for Newland International Properties Corp, where Khafif was president and which owned the dev’t, to finance construction with a bond underwritten by Bear Stearns, which BTW collapsed in 2008, & was subsequently acquired by JPMorgan.”
reuters.com/investigates/s…

📌”To sell the bond, the developer needed to prove he could sell the apartments.”

📌”This was where Nogueira came in.

📌”The Brazilian had arrived in Panama in the mid-2000s from Spain, where he had worked as a car salesman.”
reuters.com/investigates/s…

“Nogueira became renowned for his friendships with politicians, his love of Aston Martin sports cars and expensive watches &, as one former associate recalled, for “never wearing the same shoes – no matter how expensive – for more than three months.” #mob
reuters.com/investigates/s…

📌The Trumps only hire the best people...🙄

📌Alexandre V. Nogueira gained the reputation as an alleged fraudster in business with a money-launderer and two criminals from the former Soviet Union.
reuters.com/investigates/s…

“Nogueira said he first got involved with the Trump Ocean Club project at an early sales meeting in 2006 in Panama arranged by Khafif.

📌📌Ivanka Trump and other real estate brokers were there, he said.”
reuters.com/investigates/s…

“Nogueira set out to impress was Ivanka.

📌Nogueira said he met and spoke with Ivanka “many times” when she was handling the Trump Organization’s involvement in the Panama development.

📌”She would remember me,”
reuters.com/investigates/s…

📌At a meeting with Ivanka the minimum price of $120k for condominiums was discussed.

📌Nogueira suggested “Here, it is Trump selling. You have to give a value to that name.

📌Make it $220,000!”
reuters.com/investigates/s…

📌”He said Ivanka replied: “Can you sell it?”

📌Within a week Nogueira managed to collect deposits on over 100 apartments, and after that Khafif made him a leading broker, working on a 5% commission of gross sales, he said.”
reuters.com/investigates/s…

“Ivanka was so taken with his sales skills, Nogueira said, that she helped him become a leading broker for the development and he appeared in a video with her promoting the project.”
reuters.com/investigates/s…

📌📌Nogueira said that in the months that followed he discussed promotion and sales with Ivanka in Panama, Miami and New York.
reuters.com/investigates/s…