Trump Organization real estate partner in India accused of 'large-scale fraud'

Source: The Hill | March 19, 2018 | Rebecca Savransky

The Trump Organization’s real estate partner in India is being accused of at least $147 million in fraud.

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,” The Washington Post reported.

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

The real estate investment company had worked with the Trump Organization on a project in India, according to the Post.

The two companies that filed the complaint against IREO include the Children’s Investment Fund Foundation and Axon Partners. The two companies invested about $300 million in IREO, according to the Post.

The criminal complaint does not mention IREO’s partnership with the Trump Organization, according to the newspaper.

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