Trump's $500 million tower dream trapped in explosive criminal case

The planned $500 million Trump-branded tower destined for Serbia is now at the center of a criminal case after an explosive report reveals the country's president personally pushed officials to clear the way.

A Thursday investigation by The Guardian revealed leaked documents and interviews which alleged that Serbian President Aleksandar Vučić called heritage officials to his office in February 2024 and pressured them to remove legal protections from a historic building in central Belgrade.

The place was meant to be a hotel and a residential tower, having been backed by Jared Kushner, Trump's son-in-law, and intended to bear the Trump name.

The issue was that the building, which was the former Yugoslav military headquarters and had suffered damage as a result of NATO's 1999 bombing campaign, had cultural status protected by law, so removal of that status needed a formal expert evaluation rather than just a presidential decree.

Two individuals who were acquainted with the meeting said that Vučić denounced the officials as lazy and incompetent and made it clear that they should either comply or resign.

A leaked agreement revealed a free 99-year lease for Kushner’s company. A separate contract reviewed by the publication committed Serbia to removing the site’s heritage protection.

Two heritage officials resisted pressure from Finance Minister Siniša Mali, according to testimony summarized in the criminal indictment, but were ultimately forced to resign.

Serbia revoked the building’s protected status ten days after Trump won the 2024 presidential election, and prosecutors later alleged that an official forged the expert opinion used to justify the move.

What followed was a criminal investigation leading to indictments of the Culture Minister Nikola Selaković and other officials last December over alleged wrongdoing connected to the site, which Selaković denies.

Kushner’s company relented and backed out of the project, and a rep for Trump’s business said, per The Guardian: “The Trump Organization has no plans to develop any project in Belgrade, was never, at any point, involved in any discussions or negotiations to acquire any site in Belgrade and denies any involvement in or knowledge of the alleged claims.”

“We have lost an exceptional investment,” Vučić said after the project fell apart before threatening to hold accountable those who are responsible.

The investigation also found that a February 2024 meeting involving Vučić is absent from the indictment, even though prosecutors acknowledged having evidence about it.

A spokesperson for the prosecution said that the investigators were looking into whether or not other people could be held criminally liable.

Vučić and Mali have not been charged and claim that they have done nothing wrong. Neither Trump nor Kushner has been charged with a crime in the case.

The October 25 election in Serbia is now affected by the case, with the hearing of a key witness being postponed until after the voters have cast their ballots.

The fact that the project has been abandoned has led to Serbia seeing more anti-corruption protests and now presents the Trump family with a new legal problem regarding their global business plans.