Herbert Crockett said his late father suggested investing in something he could touch, so he put cash into Donald Trump’s latest hotel project in Toronto where he could feel the marble under his feet.
Crockett, a 75-year-old retired human resources director at the World Health Organization, said he bought a C$904,000 ($918,000) hotel-condominium suite at the Trump International Hotel & Tower, Toronto, attracted by a presentation that showed he could make as much as 27 percent a year on his investment. Crockett is now suing Trump and the hotel’s developers for C$2.6 million, and says he’s losing C$7,000 a month because the unit he rents out is occupied on average about a quarter of the time.
