Donald Trump’s empire at least $650 million in debt

NEW YORK, Aug. 21 (UPI) — Donald Trump‘s U.S. companies are at least $650 million in debt, owing large amounts to the Bank of China and Goldman Sachs, a New York Times investigation has found.

The debt is reportedly twice the amount stated in Trump’s public filings for his presidential campaign. The lenders are also frequent targets of scorn in the real estate mogul’s speeches.

Much of the Republican nominee for president’s business dealings remain a mystery, according to the Times investigation and also call the Federal Election Commission’s financial disclosure form into question.

In the report, Trump partly owns a building in Manhattan that carries a $950 million loan that was partly lent from the Bank of China, a country Trump routinely denounces as a enemy of the United States.

The Times investigation also found three partnerships that supply a great portion of Trump’s wealth, partnerships that currently owe $2 billion. If the loans went into default, Trump might not be personally liable for that debt, but his investments would suffer.

The investigation also found multiple discrepancies between debts Trump disclosed in his FEC filing and debts listed elsewhere.

The discrepancies in the filing are not Trump’s fault, but instead reveal the limitations of the FEC form. Though Trump’s filing was 104-pages long, it still was not enough to present what are easily the most complicated finances of any party’s presidential nominee.

comments powered by Disqus