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Wednesday, March 29, 2017
From January but more relevant now than ever
Donald Trump's businesses owe $1.8bn to more than 150 different institutions, new study suggests
President-elect faces more questions about conflict of interest as financial reliance on big banks is revealed
Donald Trump’s companies are almost $1.8 billion in debt to more than 150 institutions, a new report has suggested – raising fresh questions about potential conflicts of interests when the Republican takes office in January.
The new evidence exposes the extent to which the businessman will soon be responsible for regulating many of the institutions he owes sizeable amounts of money to.
Mr Trump has previously declared $315 million (£254 million) of debt owed to ten different lenders.
However, a new study by the Wall Street Journal claims an additional $1.5 billion is owed by companies that are partly owned by the billionaire.
Experts said the high number of firms to which the Republican owes money, and the significant size of his debts, raised questions about potential conflicts of interest.
Trevor Potter, a former legal adviser to George H.W. Bush and John McCain, told the Journal: "The problem with any of this debt is if something goes wrong, and if there is a situation where the president is suddenly personally beholden or vulnerable to threats from the lenders.