Panama government to investigate Trump Hotels dispute
The dispute between the majority owner of the Trump International Panama Hotel and the Trump Organization is getting increasingly ugly.
The standoff escalated after Panamanian police handcuffed and detained a security guard employed by the hotel.
He was hauled off for denying the police access to part of the hotel.
It comes after majority owner Orestes Fintiklis began ramping up his fight to boot the Trump Organization from the hotel.
Fintiklis blames the Trump name for declining business, and also alleges breach of contract.
The Trump Organization has refused to leave and accused Fintiklis of ‘mob-style’ tactics to force them out.
Fintiklis stepped up the pressure last week to remove the Trump Organization which has seen offices barricaded and scuffles, and claimed he had been unlawfully blocked from entering his own property.
This sparked a move by Panama’s federal prosecutors to open an investigation into the Trump Organization.
The increasingly bizarre series of events could lead to a foreign government investigating the business dealings of the US President for the first time.
"It now appears as though Mr. Fintiklis has either lost patience with the pace of the proceedings which he commenced or simply lacks the financial backing he once claimed he had," a Trump statement said.
The Trump Organization’s has a binding contract to manage the hotel until 2031 it says.
"All we ask is that we be able to manage the hotel in accordance with our management agreement without interference," Trump Organization attorney Alan Garten said.
Meanwhile, the Trump Organization said it has ‘donated’ 2017 profits made from foreign governments for stays at its hotels to the U.S. Treasury.
It did not reveal exactly how much that was.
It was ‘calculated in accordance with our policy and the Uniform System of Accounts for the Lodging Industry,’ a Trump Organization statement said.
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Editor for TravelMole North America and Asia pacific regions. Ray is a highly experienced (15+ years) skilled journalist and editor predominantly in travel, hospitality and lifestyle working with a huge number of major market-leading brands. He has also cover in-depth news, interviews and features in general business, finance, tech and geopolitical issues for a select few major news outlets and publishers.
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