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Trump's Worst Deal

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1 Trump's Worst Deal on 3/6/2017, 10:57 pm

Madow just drew our attention to an article in the New Yorker which describes in detail the partnership the Trump Company had with the folks in Azerbaijan. It's complicated, see article. This sounds even worse to me that his involvement with Russia, if that's possible.

Before signing a deal with a foreign partner, American companies, including major hotel chains, conduct risk assessments and background checks that take a close look at the country, the prospective partner, and the people involved. Countless accounting and law firms perform this service, as do many specialized investigation companies; a baseline report normally costs between ten thousand and twenty-five thousand dollars. A senior executive at one of the largest American hotel chains, who asked for anonymity because he feared reprisal from the Trump Administration, said, “We wouldn’t look at due diligence as a burden. There certainly is a cost to doing it, especially in higher-risk places. But it’s as much an investment in the protection of that brand. It’s money well spent.”

Alan Garten told me that the Trump Organization had commissioned a risk assessment for the Baku deal, but declined to name the company that had performed it. The Washington Post article on the Baku project reported that, according to Garten, the Trump Organization had undertaken “extensive due diligence” before making the hotel deal and had not discovered “any red flags.”

But the Mammadov family, in addition to its reputation for corruption, has a troubling connection that any proper risk assessment should have unearthed: for years, it has been financially entangled with an Iranian family tied to the Iranian Revolutionary Guard Corps, the ideologically driven military force. In 2008, the year that the tower was announced, Ziya Mammadov, in his role as Transportation Minister, awarded a series of multimillion-dollar contracts to Azarpassillo, an Iranian construction company. Keyumars Darvishi, its chairman, fought in the Iran-Iraq War. After the war, he became the head of Raman, an Iranian construction firm that is controlled by the Revolutionary Guard. The U.S. government has regularly accused the Guard of criminal activity, including drug trafficking, sponsoring terrorism abroad, and money laundering. Reuters recently reported that the Trump Administration was poised to officially condemn the Revolutionary Guard as a terrorist organization.

No evidence has surfaced showing that Donald Trump, or any of his employees involved in the Baku deal, actively participated in bribery, money laundering, or other illegal behavior. But the Trump Organization may have broken the law in its work with the Mammadov family. The Foreign Corrupt Practices Act, passed in 1977, forbade American companies from participating in a scheme to reward a foreign government official in exchange for material benefit or preferential treatment. The law even made it a crime for an American company to unknowingly benefit from a partner’s corruption if it could have discovered illicit activity but avoided doing so. This closed what was known as the “head in the sand” loophole.

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2 Re: Trump's Worst Deal on 3/7/2017, 3:15 am

Se also Telstar's thread, "Fascist#45 Linked To Corrupt Azerbaijan Oligarchs and Iranian Terror Group," for a video of the Maddow piece.

Ostensibly, Trump and/or family could go to prison. Serious stuff -- but will anything ever come of it? I doubt it.

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3 Re: Trump's Worst Deal on 3/7/2017, 4:10 am

RealLindaL wrote:Se also Telstar's thread, "Fascist#45 Linked To Corrupt Azerbaijan Oligarchs and Iranian Terror Group," for a video of the Maddow piece.  

Ostensibly, Trump and/or family could go to prison.  Serious stuff -- but will anything ever come of it?  I doubt it.

At least this may be part of the dirty puzzle that needs to be put together before fascist #45 is ousted. Sorry I didn't notice this thread or I would have placed my Maddow piece here Othershoe.

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