Heavy fine imposed on Donald Trump's company, punished for tax fraud

Former US President Donald Trump is once again in the news. This time a US court has imposed a heavy fine on Trump’s company. The court found the company guilty of tax fraud and sentenced it to pay a fine of $1.61 million. A New York judge on Friday convicted Donald Trump’s flagship real estate company of conspiring to defraud tax officials for 15 years.

Manhattan Criminal Court Justice Juan Marchan handed down the maximum sentence under state law after pleading guilty last month to two Trump Organization entities on 17 criminal charges. Murchan on Tuesday sentenced Alan Weiselberg, who worked for the Trump family for 50 years. He was the former chief financial officer of the company, he was jailed for five months.

Susan Necheles, one of the defense attorneys, said Trump’s company plans to appeal. No one else was charged. This matter came to the office of Manhattan District Attorney Alvin Bragg. It was told from there that they are still doing criminal investigation of Trump’s business establishments. Bragg told that our ongoing investigation into the former President and his businesses will now go through the next phase.

One of the prosecutors, Joshua Steinglass, told Justice Merchan that the fines were only a small portion of the Trump Organization’s revenue. Companies cannot be punished with jail or prison.

He said that this is a farce. Because of this punishment no one will stop committing such crimes. The case has long been a thorn in the side of the former president, who dislikes him and his politics.

State Attorney General Letitia James filed a $250 million civil lawsuit accusing Trump and his children Donald Jr., Ivanka and Eric of inflating the values ​​of their assets and their company’s assets to save on loans and insurance.

Let us tell that Trump is facing many other legal troubles. He is under investigation related to January 6, 2021. In addition, an attack on the US Capitol, tampering with documents after leaving the White House, and an attempted riot after the 2020 election results in Georgia.