Trump Didn’t Disclose $19.8 Million Loan With North Korea-Tied Company While President
Former President Donald Trump didn’t disclose a $19.8 million loan with a South Korean company he held when he was in office, a report revealed.
Documents compiled by the Trump Organization and obtained by the New York attorney general show the debt with Daewoo, a conglomerate based in Seoul which has historical ties with North Korea.
In the 90s, Daewoo was the only South Korean company allowed to do business in North Korea.
Its relationship with Trump’s business dates back 25 years ago and both companies partnered in several projects, including using Trump’s name in properties in South Korea.
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Files show that the $19.8 balance remained the same from 2011 to 2016 and was paid back in July 2017, five months after Trump became president.
Although the documents were disclosed on the Trump Organization’s internal documents, Trump was required by law to submit the documents to federal officials during the campaign and after taking office.
In 2016, Trump’s chief financial officer, Allen Weisselberg, said that Trump had disclosed all debts related to companies in which he had a 100% stake.
The report came as Trump and his business face several investigations. On Tuesday, a New York jury found the Trump Organization guilty of tax fraud.
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