Hotel investor: Trump evaded taxes in Panama

The majority owner of a former Trump-branded hotel in Panama alleged in a court filing on Monday that President Donald Trump's company misrepresented finances of the building to evade taxes in the country.

A filing in New York federal court by property owner Orestes Fintiklis alleges that Trump's hotel management company evaded income and social security taxes when it managed the former Trump Ocean Club International Hotel & Tower.

The new accusations are part of protracted, bitter dispute between Trump's company and Fintiklis, the majority owner of the 70-story, seaside, sail-shaped building.

For Subscribers

FOR SUBSCRIBERSIt’s rarely been harder for people to find new jobs

FOR SUBSCRIBERSCBP leaders cut out of Trump ad buy decision

FOR SUBSCRIBERSAmerican passenger drafted goodbye texts to her family as Flydubai plane plummeted

FOR SUBSCRIBERSCornell rape allegation pushes embattled New York prosecutor into national spotlight

FOR SUBSCRIBERSAbdul El-Sayed tries to woo MAHA voters as Democrats seek inroads with RFK’s supporters

FOR SUBSCRIBERSKratom-like substances are popping up in a typically benign supplement

FOR SUBSCRIBERSGOP super PAC increases its spending for Sen. Jon Husted in tough Ohio race

FOR SUBSCRIBERSRecords reveal tumultuous marriage between slain New York Times executive and wife

FOR SUBSCRIBERSFrom clean energy warrior to ‘wall of shame,’ James Talarico reverses on a fossil fuel money pledge

FOR SUBSCRIBERSCongressional staff planned official trip with luxury stops in Italy and France weeks before election

FOR SUBSCRIBERSA harrowing ordeal aboard an Israel-bound plane

FOR SUBSCRIBERSOpenAI CEO Sam Altman to skip congressional hearing on rogue AI agents

FOR SUBSCRIBERSKey DOJ lawyers departed Trump ‘grand conspiracy’ probe amid pressure to produce, source says

FOR SUBSCRIBERSTrump’s new AI chatbot often links to a site launched under Clinton 26 years ago

FOR SUBSCRIBERSAt MAHA summit, industry CEOs the movement once vilified take the stage

The filing says that Trump's company misrepresented salaries paid to employees and other financial records of the hotel to cut its tax bill on fees it was collecting for managing the hotel, slash its social security payments and hand over less to owner Fintiklis. The filing does not state how much in taxes the Trump company allegedly should have paid.

The Trump Organization said that it did not evade any taxes and, if anything, Fintiklis is to blame on tax matters.

For Subscribers

FOR SUBSCRIBERSIt’s rarely been harder for people to find new jobs

FOR SUBSCRIBERSCBP leaders cut out of Trump ad buy decision

FOR SUBSCRIBERSAmerican passenger drafted goodbye texts to her family as Flydubai plane plummeted

FOR SUBSCRIBERSCornell rape allegation pushes embattled New York prosecutor into national spotlight

FOR SUBSCRIBERSAbdul El-Sayed tries to woo MAHA voters as Democrats seek inroads with RFK’s supporters

FOR SUBSCRIBERSKratom-like substances are popping up in a typically benign supplement

FOR SUBSCRIBERSGOP super PAC increases its spending for Sen. Jon Husted in tough Ohio race

FOR SUBSCRIBERSRecords reveal tumultuous marriage between slain New York Times executive and wife

FOR SUBSCRIBERSFrom clean energy warrior to ‘wall of shame,’ James Talarico reverses on a fossil fuel money pledge

FOR SUBSCRIBERSCongressional staff planned official trip with luxury stops in Italy and France weeks before election

FOR SUBSCRIBERSA harrowing ordeal aboard an Israel-bound plane

FOR SUBSCRIBERSOpenAI CEO Sam Altman to skip congressional hearing on rogue AI agents

FOR SUBSCRIBERSKey DOJ lawyers departed Trump ‘grand conspiracy’ probe amid pressure to produce, source says

FOR SUBSCRIBERSTrump’s new AI chatbot often links to a site launched under Clinton 26 years ago

FOR SUBSCRIBERSAt MAHA summit, industry CEOs the movement once vilified take the stage

"To the extent any taxes were to be withheld, it was the responsibility of the condominium that owns the hotel. The Trump Organization's only role was to manage the property," Trump Organization spokeswoman Kimberly Benza said in an emailed statement. "We look forward to taking the depositions of Mr. Fintiklis' and his partners and unmasking their fraud."

The filing in U.S. District Court for the Southern District of New York follows a ruling by judicial officials in Panama early last year against Trump's company in favor of Fintiklis. A few months later, Trump's name was removed from the facade and building management turned over to U.S. hotelier Marriott International.

The dispute started in October 2017 after Fintiklis' company, Ithaca Capital Group, took control of 202 of the hotel's condos. Fintiklis then pushed to terminate Trump's 20-year contract managing the building, alleging "gross negligence and potentially fraudulent conduct," including "looted" bank accounts. The Trump Organization disputed its termination as illegitimate and refused to hand over the property.