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Another Trump scandal ?

Addy

Rebuild With Biden!
Trump as president has always been and been proven so many times to be a scary proposition. Keeping America safe seems to be the least thing he has ever had or will ever have on his agenda as president.
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BILLIONAIRES


EDITORS' PICK
Trump Owed Hidden Debt While In Office

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.

 

Bugsy McGurk

President
They should just call the Trump presidency the Never Ending Story of Corruption.

Is there no despot he didn't take bribes from, or who had leverage over him ?


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And that’s just one example of Trump’s atrocious conflicts of interest. There are no doubt many more, which he has managed to hide when hiding his tax returns and other financial records. All of which is fine with Trump cultists.
 
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