Trump’s company in trouble – level 3

19-01-2023 07:00

Donald Trump’s real estate company was ordered to pay a 1.61-million-dollar criminal penalty after a court convicted it of a 15-year-scheme to defraud tax authorities.

According to state law, the penalty was the maximum possible that the court could use, and the penalty was no surprise. However, it may impact other business, because it’ll be a problem for lenders.

Alan Weisselberg worked for Trump’s family for 50 years and was the company’s former CFO. Last week, the court sentenced him to five months in prison after they found him guilty of 15 criminal charges including criminal tax fraud and falsified business records.

Trump called the charges part of a witch hunt by democrats who dislike him in his politics, and his company plans to appeal.

Difficult words: defraud (to illegally take money from a person or company), falsify (to change documents or numbers), witch hunt (a campaign directed against a person or group considered dangerous and whose opinions are unpopular).

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