The Trump Organization is rapidly expanding in India, its largest foreign market, even as several of its local partners face criminal and regulatory investigations, The Wall Street Journal reported.
In April, Eric Trump announced a new 51-story luxury tower in Gurugram, near New Delhi, that sold out within hours. The project’s developers, the Bansal family of M3M, have been accused by Indian authorities of money laundering, bribery and land fraud unrelated to the Trump projects. Investigators say they helped another developer funnel about $46 million in illicit funds. The Bansals deny wrongdoing and say they have faith in India’s courts.
India’s real estate sector has long faced corruption allegations, and nearly every Trump-branded project there has involved partners accused of misconduct. Still, India projects generated over $12 million in fees for the Trump Organization last year.
The company has lifted earlier self-imposed limits on foreign ventures as it pursues new projects in the Middle East, Eastern Europe and Asia.