Trump's real estate firm fined $1.6 million for evading taxes

A court in the US state of New York has ordered Donald Trump's real estate company to pay a 1.6-million-dollar penalty after it was convicted of tax fraud and other charges.

The Trump Organization, which the former president had managed before he took office, was convicted in December of tax evasion, fraud and other crimes.

Referring to Friday's court ruling, the Manhattan District Attorney noted in a statement that it's the maximum fine under the state's tax and penalty laws.

The attorney, Alvin Bragg, said, "While corporations can't serve jail time, this consequential conviction and sentencing serves as a reminder to corporations and executives that you cannot defraud tax authorities and get away with it."

The company's former chief financial officer, Allen Weisselberg, pleaded guilty and was sentenced to five months in prison on Tuesday.

Trump has not been held liable for the crimes. But the case could deal a blow to his bid for the 2024 presidential election.