The investors were buying into a Fort Lauderdale condo by the bunko artist, Donald Trump, through a broker who had committed some serious fraud. So maybe the feds failed to notify the Trump condo investors that the salesman for the project, Felix Sater, had already been prosecuted for swindling millions from investors in an earlier stock scheme but was protected from further disclosure because he helped put some of his Mafiosi investors in prison.
Born in the former Soviet Union and raised in New York, Sater began his rise in financial circles as a young stock broker in the 1990s. "But his career took a wrong turn when he was arrested after getting into a bar fight where he stabbed another broker in the face with the stem of a shattered margarita glass."
I'm guessing for the putative GOP presidential candidate, The Donald, can't be put out knowing every swindler attached to his brand, can he? When would he have time for haircuts?
In the annals of the housing crash, this story nearly matches up to the one about the barber and friends in Opalacka who fraudulently accumulated tens of millions of dollars of pricey real estate in Wellington. Then there is R. Allen Stanford, hauling cash by the billion dollar duffel bag from downtown Miami to private jets flying to Antigua, with photos of Jeb Bush and George W. Bush gazing down from his office walls.
All I can say: some days it does pay to be a newspaper reporter.