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Washington Post has reported that Trump organization’s India partner has been accused of at least $147 million fraud

The post reported, Two global investment companies last month filed a criminal complaint with New Delhi police against IREO, accusing the company of engaging in “large-scale fraud,”

India Partner of Trump org is accused of $147 million fraud

Accordong to the complaint the company was “illegally siphoning off” at least $147 million of investor money and alleges the number could actually approach $200 million.

The post has reported that this particular company had worked with a Trump Organization project in India.
The two companies that filed the complaint against IREO include the Children’s Investment Fund Foundation and Axon Partners. The companies invested about $300 million total in IREO, according to the Post.

Post also reports, the criminal complaint does not mention IREO’s partnership with the Trump Organization,
far as the allegation of fraud, diversion and misappropriation of funds is concerned, that is false, baseless and devoid of any merit.”

In the letter, he also called the legal proceedings a “needless and unwarranted distraction,” adding that they would result in “significant damage and harm to IREO.”
Goyal did not comment directly to the Post regarding the complaint.

Donald Trump Jr. has, in the past, praised IREO as “truly a fantastic group.” Goyal said in an interview with the Post in 2017 that IREO thought Trump Jr. would be “the ideal partner.”

The Trump Organization and IREO had first discussed working together on a commercial real estate tower around 2013, according to the Post, but that deal didn’t end up happening.

In 2016, the two groups signed a licensing agreement regarding a luxury office building.

Goyal offered praise for Trump Jr., saying he was “very focused on what the commercial building should be.”

The shape of the glass, what customers like. He was very businesslike,” Goyal said in the 2017 interview.

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