Fri | Aug 18, 2017

Trump Hotels no longer to run luxury site in Rio

Published:Thursday | December 15, 2016 | 12:00 AM
TRUMP

RIO (AP):

Trump Hotels said it will no longer operate a Rio de Janeiro luxury hotel that is involved in a criminal investigation. The company is also pulling its name from the Brazilian property.

Trump Hotels spokeswoman Christine Lin said that the decision was made because developers are behind schedule.

The beachside hotel in the upscale suburb of Barra da Tijuca was supposed to be finished in time for the Rio Olympics this past August. Today, only a portion of it is operational.

In October, prosecutors said they were investigating questionable investments in the hotel by two pension funds. Hotel owner LSH Barra has denied wrongdoing.

President-elect Donald Trump has faced criticism for investments overseas that many say present conflicts of interest.

Meanwhile,Trump's team said he is receiving formal intelligence briefing three times a week.

Spokesman Sean Spicer said Trump is also meeting daily with incoming national security adviser Michael Flynn to be briefed on intelligence matters.

Trump has challenged the necessity of a daily intelligence briefing telling 'Fox News Sunday', in a recent interview that he does not need to hear the same information every day. He said he has told intelligence officials to let him know if situations change.

Trump has also publicly challenged the intelligence community's assessment that Russia interfered in the presidential election in order to help his prospects.