However, Trump remained the sole or major owner of those hundreds of businesses and was always able to profit from them. He recently returned to his old office on Fifth Avenue’s Trump Tower, but it’s not clear how much he took on the role of overseeing his previous duties.
Will the fees impair the company’s ability to do business?
If a Trump organization is found guilty, they will have to pay twice the unpaid tax or a fine of $ 250,000, whichever is greater. The company may also have to change the way it operates.
But even without conviction, prosecution can cause problems.
Daniel Howitz, a white-collar defense lawyer at McLaughlin and Stern and a former prosecutor at the Manhattan District Attorney’s Office, said:
“Companies in the financial services industry are reluctant to do business with them. As with their ability to place liquid assets in banks and brokerage firms, access to capital is restricted or blocked.”
What happened to the other companies that were charged with criminal charges?
Giant accounting firm Arthur Andersen began losing auditing business after criminal accusation Submitted in connection with that Enron’s work, And that Had to be fired in the end Tens of thousands of workers. In 2005, the Supreme Court overturned the obstruction of a judicial conviction, but it was too late for the company to collapse.
Explainer: How could the prosecution hurt Trump’s company? | Business and Economy
Source link Explainer: How could the prosecution hurt Trump’s company? | Business and Economy