Trump Had Hidden $19.8 Million Loan From North Korea-Linked Company As President: Report

RayGravesGhost

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https://www.yahoo.com/news/trump-had-hidden-19-8-125434457.html
Trump Had Hidden $19.8 Million Loan From North Korea-Linked Company As President: Report
Mary Papenfuss
Mon, December 5, 2022 at 7:54 AM

Donald Trump failed to disclose a $19.8 million loan from a company with ties to North Korea while he was president, Forbes reported Sunday, citing documents uncovered by the New York attorney general’s office.

Trump owed the money to L/P Daewoo while he was campaigning in 2016 and into his presidency, according to records. He didn’t list the debt in financial disclosure filings, as candidates and presidents are expected to do, Forbes reported.

The loan was paid off just over five months into his presidency. Forbes said the documents don’t specify who satisfied it.

Daewoo is a South Korean conglomerate that partnered with Trump on a development project near the United Nations headquarters in New York City and on several other projects over the years. The company has ties to North Korea, Forbes reported, and was the only South Korean company allowed to operate a business in North Korea in the mid-1990s.
 

LauderdaleNole

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There's an article on Salon that one of Ray's former neighbor's, grandfather's, one time hair stylist knew a guy who saw Hitler in person in the 1940's...Ray must be a Nazi.
 
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Capt Ron 1

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If it gets reported on other networks...and stays on there for a year, I MAY go look in to it. And it WILL NOT be the case. Lefties lying like they do EVERY day of their life. They just are NOT Americans.
 
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RayGravesGhost

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If it gets reported on other networks...and stays on there for a year, I MAY go look in to it. And it WILL NOT be the case.

Is this the approach that should have taken place with the NY Post's reporting on Hunter Biden? 🤣
 

LauderdaleNole

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If it gets reported on other networks...and stays on there for a year, I MAY go look in to it. And it WILL NOT be the case. Lefties lying like they do EVERY day of their life. They just are NOT Americans.
It's deflection.
Trump has owned a real estate development company for decades.
Trump shows a debt to Daewoo...a South Korean entity which also has ties to, hold your breath, North Korea in the 90's.
Trump was developing properties is South Korea so I don't find it odd he had loans from a South Korean entity.
I found another liberal rag who actually referred to it as a debt not a loan that stemmed from licensing fee agreements. No clue if that's accurate.
 
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RayGravesGhost

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Yep...those darn liberal rags like Forbes... 🤣


https://www.forbes.com/sites/danale...-hidden-debt-while-in-office/?sh=50a6b5beb30e
Trump Owed Hidden Debt While In Office
Dan AlexanderForbes Staff
Senior editor at Forbes, covering Donald Trump's business.
Follow
Dec 4, 2022,08:15am EST


The documents, compiled by the Trump Organization and obtained by the New York attorney general, show a previously unreported liability of $19.8 million listed as “L/P Daewoo.” The debt stems from an agreement Trump struck to share some of his licensing fees with Daewoo, a South Korean conglomerate that partnered with Trump on a project near the United Nations headquarters in New York City.


Trump eliminated the debt five and a half months into his tenure as president, according to the documents. He seems to have acted with some urgency to wipe the liability off his balance sheet. From 2011 to 2016, the documents show that the balance stayed static at $19.8 million. Paperwork capturing Trump’s financial picture as of June 30, 2017, five months into his presidency, appears to show that the balance had dropped to $4.3 million, $15.5 million less than it had been a year earlier. Trump got rid of the debt altogether shortly after that. “Daewoo was bought out of its position on July 5, 2017,” the documents say, without specifying who exactly paid off the loan.


Although the debt appeared on the Trump Organization’s internal paperwork, it did not show up on Trump’s public financial disclosure reports, documents he was required to submit to federal officials while running for president and after taking office. Trump’s former chief financial officer, Allen Weisselberg, told the New York Times in 2016 that his boss disclosed all debt connected to companies in which Trump held a 100% stake on the documents. That was not true.


There is a chance that Trump’s omission may have been legal, nonetheless. Although officials have to list personal loans on their financial disclosures, the law does not require them to include loans to their companies, unless they are personally liable for the loans. The Trump Organization documents do not specify whether the former president, who owned 100% of the entities responsible for the debt, personally guaranteed the liability, leaving it unclear whether he broke the law or merely took advantage of a loophole.


There’s little doubt that if the world had known about the debt while Trump was president, it would have sparked conflict-of-interest concerns, perhaps heightened by Daewoo’s historical ties to North Korea. (In the mid-1990s, the firm was the only South Korean company permitted to operate a business inside the country.) Most people as rich as Trump would not be heavily influenced by a $20 million loan.

Regardless, the fact that the former president managed to keep the debt secret for so long underscores how weak the government’s ethics safeguards are, how difficult they are to strengthen—and how easily Trump could barrel right through them as he runs for president again in 2024.
 

Capt Ron 1

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Is this the approach that should have taken place with the NY Post's reporting on Hunter Biden? 🤣
They were RIGHT...and your post is wrong...so YES. You make stuff up, and disregard what is actually happening. You are SO SLOW I am not sure how much more I can converse with you. If I could dial myself back to third grade...I MAY be interested. Your mental acuity is VERY low.