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PO Box 1212 Tampa, FL 33601 Pinellas Updated November 2024
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RETURN TO NEWS INDEX Trump Buyers Claim Deceit TAMPA - Another lawsuit has been filed against the developers and others involved in the troubled Trump Tower Tampa project by buyers seeking their deposit money back. Jugal and Manju Taneja of Largo claim in their suit that they were misled to think that real estate mogul Donald Trump was a partner in the condo tower project. They later learned that he only licensed his name to local developer SimDag LLC, the suit states. "Mr. Trump has a reputation, and my clients were relying on his expertise," said the Tanejas' attorney, Dean Papas of Gray Robinson in Tampa. "The truth is all he did was take money out of it." The suit, filed Monday in Hillsborough County Circuit Court, names Trump, SimDag and each of the original individual development partners. Trump and Kathy Rentas, a SimDag attorney, could not be reached for comment Tuesday. In the suit, the Tanejas claim the defendants signed a confidentiality agreement "to keep the true relationship between Defendant Trump and the remaining defendants a secret." By doing that, the sellers and Trump violated Florida's Deceptive and Unfair Trade Practices Act, the suit contends. In conversations with the Tanejas and in marketing materials, the suit claims, the defendants stated that Trump was a "partner" in the project. One brochure, for example, featured a statement signed by Trump that said, "I am very proud to partner with SimDag/RoBel in presenting the Trump Tower Tampa," the suit says. Another promotional sheet, titled "The Partners," featured photos of Patrick Sheppard, Howard Howell, Jody Simon, Robert Lyons, Frank Dagostino and Trump. The Tanejas' suit comes on the heels of a judgment issued last month by Hillsborough Circuit Judge Frank Gomez. He ruled that SimDag must pay $587,916 to ADAJA Properties LLC, a Tampa company that purchased two condos. SimDag failed responded to the suit. Rentas, of the law firm Becker & Poliakoff, told The Tampa Tribune at the time that the response wasn't filed because she didn't know about the suit. She said she planned to ask the judge to set aside the default and vacate the judgment. Two other buyers have filed suits against the project, seeking deposits back. Those suits are pending. The $300 million Trump Tower was announced in early 2005 as a luxury 52-story high-rise on the Hillsborough River downtown. The project never went vertical. The developer struggled to obtain construction financing and ran into trouble with unstable soil beneath the site and rising construction costs. In May, Trump sued seeking to terminate his licensing agreement with SimDag. That's when Papas said they discovered the licensing agreement. The Tanejas put down a 20 percent deposit, or $528,000 on a $2.64 million unit. Half was put in escrow and the rest was available to the developer to use for construction costs. Papas said SimDag has agreed to return the escrow portion of the money, as the original contract mandates, to anyone wanting to drop out of the purchase agreement. SimDag LLC recently told buyers that it has received a "commitment agreement" for a loan from a New York hedge fund and still wants to build the tower. The company has not said since whether the deal has been signed. Meanwhile, Don Wallace, a Pinellas County resident who says his wife and two partners also put a deposit on a condo, is trying to organize a meeting this month for buyers to discuss options. "Yeah, we can get our escrow money back, but that's still a big hit to take," Wallace said, referring to contract provisions that allow the developer to keep half the deposit if a buyer drops out of a contract. Reporter Carol Gentry contributed to this report. Reporter Shannon Behnken can be reached at sbehnken@tampatrib.com or (813) 259-7804. |
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