GO
Loading...

Trump Denies Fraud Allegations, Blasts NY Times

Margo D. Beller|Special to CNBC.com
Friday, 13 May 2011 | 6:38 PM ET

Real-estate mogul and potential presidential candidate Donald Trump hotly denied allegations of fraud detailed in a New York Times article.

He blasted reporter Michael Barbaro in a CNBC interview Friday, calling him an "unsophisticated" and "terrible reporter" who "didn't have the guts" to go on CNBC with him as scheduled because "he doesn't have any facts."

Trump Disputes NY Times Article
Donald Trump, Trump Organization chairman/president, disputes a New York Times article that alleges Trump has been licensing his name to failed projects, particularly real estate developments in other parts of the country.

The article accuses the Trump Organization chairman of entering into licensing arrangements that some home buyers described as deliberately deceptive because it gave the impression he was involved. Trump told CNBC the many "sophisticated investors" who put their money into the developments that licensed his name are given documents that, in big print, warn them to "read this property report before signing anything."

He said the New York Times shouldn't be writing about him considering its history of making bad deals.

"It's interesting that the Times does this on a couple of licensing deals when they sell their property...for $120 million, $175 million to people that I know [who] flip the building for $500 million a short time later. This is the New York Times writing about me with a couple of licensing deals."

The New York Times responded, saying they stand by their story. "[T]he facts are clear, properties were marketed with Mr. Trump's name and likeness misleading investors that he was involved in these properties when he was not,” a spokeswoman said.

  Price   Change %Change
NYT
---

Featured

Contact U.S. News

  • CNBC NEWSLETTERS

    Get the best of CNBC in your inbox

    › Learn More

Don't Miss

U.S. Video