THE FBI is investigating Ivanka Trump’s hotel venture in Vancouver, which is backed by a Malaysian developer, reports CNN.
The Federal Bureau of Investigation probe into Ivanka, the daughter of US President Donald Trump, is centred on Trump International Hotel and Tower in Vancouver, developed by Holborn Group, which is run by Tiah Joo Kim, the CEO of TA Global Bhd.
Tiah is the son of TA Enterprise chairman Tony Tiah Thee Kian, one of Malaysia’s wealthiest men.
Ivanka runs a trademarked spa in the US$360 million (RM1.42 billion) project, which features 147 guest rooms and 217 luxury residences.
The Trump Organisation made more than US$5 million in royalties and US$21,500 in management fees from the Vancouver property, CNN said.
The FBI probe into Ivanka’s business deals will likely delay the first daughter’s full security clearance and impact on her role as White House senior adviser.
Ivanka’s husband, Jared Kushner, lost his top-level security clearance this week, amid special counsel Robert Mueller’s investigation into possible collusion between the Trump presidential campaign and Moscow.
CNN said it is not clear why investigators are examining the Vancouver deal but noted that the flow of foreign money could spark scrutiny.
Holborn is backed by the senior Tiah, who pleaded guilty in 2002 to submitting a false report to the then Kuala Lumpur Stock Exchange (KLSE) and paid a RM3 million fine. He was also forced to quit as executive chairman of TA Enterprise and returned to the post five years later.
The Vancouver tower attracted many foreign buyers, including one with links to the Chinese government.
Ivanka resigned from the Trump Organisation in January 2017 and officially joined the White House staff in March.
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