The one that helped bring bring down Ivanka and Jared?

From CNN:

The FBI has been looking closely at the international business entanglements of both Ivanka Trump and her husband, Jared Kushner, to determine whether any of those deals could leave them vulnerable to pressure from foreign agents, including China, according to a US official. 
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The development — a 616-foot beacon dotting the Vancouver skyline and featuring a trademarked Ivanka Trump spa — opened in February 2017, just after Trump took office.
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The Trump Organization does not own the building. Instead, like other Trump projects, it receives licensing and marketing fees from the developer, Joo Kim Tiah. A scion of one of Malaysia’s wealthiest families, Tiah runs his family’s Canada-based development company Holborn Group. President Trump’s June financial disclosure form said the Trump Organization made more than $5 million in royalties and $21,500 in management fees from the Vancouver property.
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The $360 million project, which features 147 guest rooms and 217 luxury residences, quickly became a magnet for foreign buyers.
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In the case of Vancouver, it’s not clear why investigators are examining this particular deal. The timing of the deal — as one of the few Trump-branded properties to open since Trump took office — could be of interest. The flow of foreign money, either from the developer or international condo buyers, could also be sparking scrutiny. …
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Another addition to our ‘Vancouver Model’ reputation?

 

Comments

  1. Perhaps we ought to look first at our own Canadian weak laws that allow tax evasion on a grand scale ( especially in real estate via flipping or multiple untaxed property sales ) before we stick our noses into alleged Trump misgivings.

    1. The CRA, CMHC, FinTrack and several provincial agencies are loooking into that and corruption. One thing I hope comes out of the affordability crisis is the total gutting and rebuilding of the real estate industry. It has been so lax in self-enforcement. It’s time for a senior government to step in.

      1. Dream on. We may see a minor 5% .. maybe 10% wobble .. but that’s about it .. Gen Y, huge immigration, downsizers, upsizers, investors, all want a piece of REAL estate in land locked MetroVan ..
        Keep in mind that government will tout this “see, prices went down 10%”: high end home prices may come down 10-20% based on new 2% tax (i.e. $100,000 prop taxes on a $5M house) .. so that house might go for $4.5M now .. maybe even $4M .. or 20% .. while the average $1M condo stays FLAT FLAT FLAT .. but the average it is down !
        Affordability will not move one iota [ especially not by taxing golf course condos in Victoria or Kelowna for Albertans ]

  2. What jumps out here is this is a counterintelligence investigation. If this was for ethics violations or money-laundering it would be a different dept. of the FBI handling this.

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