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.
R&I – TxPAT