Trump real estate partner in India accused of $147 million fraud

The company that has partnered with the Trump Business venture in an office tower project in India has been accused of defrauding its foreign investors of at least $147 million. Two firms – Children’s Investment Fund Foundation, a charity of the British billionaire Christopher Hohn and Axon Partners, an equity firm run by former Goldman Sachs executive Dinakar Singh – invested nearly $300 million in the Indian real estate development company IREO.

The two firms filed a criminal complaint with New Delhi police last month alleging that the fund’s Indian managing director, Lalit Goyal, co-founder Anurag Bhargava and others engaged in “large-scale fraud” by “illegally siphoning off” at least $147 million of investor money, the report said. They allege that the actual sum could approach $200 million.