How Donald Trump wasn’t completely honest about his financial situation when it was revealed he had about $20 million in undisclosed debt when he first ran for president in 2016. You may be surprised to know!
Donald Trump saddled millions of unreported debts to companies with ties to North Korea during his time as president. What else do you not know?
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— Vanity Fair (@VanityFair) December 6, 2022
Trump’s hidden debt
The 76-year-old, twice-impeached president owed a previously undisclosed $19.8 million in debt to a company with historical ties to North Korea that has been running since his inauguration. We just found out. Candidates running for president are formally required to disclose their assets, sources of income, and liabilities so that the public can identify potential conflicts of interest, according to the form Trump filed. There was no indication of this debt.
Technically speaking, Trump and his supporters could argue that the debt came from Trump’s family business, the Trump Organization.
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Dan Alexander forbes “While public officials are required to list personal loans in their financial disclosures, the law does not require them to include loans to companies unless they are personally responsible for the loans.” , leaving an open question as to whether he personally guaranteed these loans, thus violating the law, but the fact that Trump “owned 100% of the entities responsible for the debt” remained, and this would have undoubtedly affected his public image.
Who did Trump owe money to?
The $19.8 million debt, first revealed after New York Attorney General Letitia James obtained documents from the Trump Organization earlier this year, was owed to Daewoo, a South Korean conglomerate that worked with Trump on a project in New York City. It was something. This may not sound so bad, but once they learn that Daewoo had ties to North Korea in the past (they said he was allowed to do business in North Korea in the mid was the only company), things get a little less simple. The idea that the president is in debt to a North Korea-related company is downright shady! Efforts were made to wipe out the debt.
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“He appears to have acted urgently to wipe the debt off his balance sheet. From 2011 to 2016, documents show the balance stood at $19.8 million. His presidency It appears to show that the balance has dropped to $4.3 million, $15.5 million less than a year ago.
It’s important to remember that this is not a new relationship between Trump and Daewoo. We asked how this debt was written off and whether there were any ramifications while Trump was in the White House.
I was surprised at the low price of 20 million yen. Now that his tax returns are in the hands of investigators, I believe this is only the first such liability to come to light.
— Michael J. Sheridan (@MSheridan62) December 5, 2022
Criticism of social media
As expected, this latest revelation isn’t well received among Twitter users! [expletive] He would not have sold the United States at every possible opportunity to settle his own personal debts. [expletive] Stupid,” wrote one angry Twitter user. The tax returns are in the hands of investigators,” they continued, adding that another speculation was that “he used taxpayer money to pay off that debt.” asked a Twitter user of
“Hmm, I’m not defending Trump all the way, but Daewoo is a South Korean company and the article says he’s been doing business with them for 20 years, so I’d say ‘North Korea and The connection” is pretty tenuous,” wrote another. That was all.
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