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Why Trump had hidden debt while in office

Donald Trump's business was scrutinized so closely during his tenure that we could easily conclude that all information about his foreign connections must be known by now. It's not. Hidden beneath a mountain of recently released financial documents is a surprising fact. Donald Trump had foreign creditors he didn't disclose during his 2016 presidential run and after his 2017 inauguration.

Documents compiled by the

Trump Organization and obtained by the New York Attorney General show his previously unreported $19.8 million debt listed as "L/P Daewoo." The debt stems from an agreement Trump made with Daewoo, a South Korean conglomerate that has worked with Trump on a project near the United Nations headquarters in New York City, for Trump to share a portion of the royalties.

According to

documents, Trump canceled his debts during the five and a half months of his presidency. He appears to have acted urgently to settle the debt on his balance sheet. From 2011 until 2016, documents show that the balance remained constant at his $19.8 million. On June 30, 2017, documents capturing Trump's finances five months into his presidency showed that the balance had fallen to his $4.3 million, down $15.5 million from the year before. seems to indicate Shortly thereafter, Trump completely wiped out his debt. “Daewoo said he was sold on July 5, 2017,” the documents said, but did not specify who paid off the loan.Donald Trump's business was scrutinized so closely during his tenure that we could easily conclude that all information about his foreign connections must be known by now. It's not. Hidden beneath a mountain of recently released financial documents is a surprising fact. Donald Trump had foreign creditors he didn't disclose during his 2016 presidential run and after his 2017 inauguration.

Documents compiled by the

Trump Organization and obtained by the New York Attorney General show his previously unreported $19.8 million debt listed as "L/P Daewoo." The debt stems from an agreement Trump made with Daewoo, a South Korean conglomerate that has worked with Trump on a project near the United Nations headquarters in New York City, for Trump to share a portion of the royalties.

According to

documents, Trump canceled his debts during the five and a half months of his presidency. He appears to have acted urgently to settle the debt on his balance sheet. From 2011 until 2016, documents show that the balance remained constant at his $19.8 million. On June 30, 2017, documents capturing Trump's finances five months into his presidency showed that the balance had fallen to his $4.3 million, down $15.5 million from the year before. seems to indicate Shortly thereafter, Trump completely wiped out his debt. “Daewoo said he was sold on July 5, 2017,” the documents said, but did not specify who paid off the loan.

Content created and supplied by: Joyjayy (via Opera News )

New York P Daewoo South Korean Trump Trump Organization


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