Trump Tower Gold Coast proposal linked to developer with past bankruptcies, investigation reveals
The property developer proposing a Trump Tower on the Gold Coast is a businessman who has twice declared bankruptcy, according to ABC reports revealed today.
The Trump International Hotel and Tower are described on the developer’s website as the “next ultra-luxury address” and promises an “exceptional residential and globally renowned hospitality and service experience unlike anything seen in Australia.”
In 1991, in Cairns, according to ABC, documents reveal that David Young was declared bankrupt—along with at least one other person—by the brewing company Castlemaine Perkins. According to a self-authored article on Altus’s website, Mr Young worked in pubs and nightclubs before moving into property development. That bankruptcy was also formally discharged.
In 2010, as his property company faced difficulties, he filed for bankruptcy in Surfers Paradise while working as a management consultant. Records show he was discharged after the standard three-year period.
This week, Altus Property Group announced collaboration with The Trump Organization to launch Trump International Hotel & Tower Gold Coast.
On LinkedIn, Mr Young said that “Trump hotels and resorts are the best, and that’s what I wanted to build.”
“I’m a fairly confident and direct person, so I went on the hunt for a phone number of someone in the Trump world. Given that they are a family business, I sensed that they would assess me very quickly and either dismiss me or start talking,” he posted.
“This was years before Donald Trump became President. My project has nothing to do with politics. It should only illicit emotional responses because of the quality of the product and the beauty of the building.”
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