Cohen to Pay 'Very Serious Price' After Guilty Plea, Prosecutor Says

The transcript discusses Mr. Cohen's legal issues, including tax evasion from 2012 to 2016, where he failed to report over $4.3 million, resulting in a $1.3 million loss to the U.S. Treasury. He also made false statements to obtain a $500,000 line of credit by concealing $14 million in debt. Additionally, Cohen pled guilty to campaign finance violations, including unlawful corporate contributions and excessive personal contributions to influence the 2016 election. He sought reimbursement for these contributions through false invoices. The transcript highlights the seriousness of these charges, especially for a lawyer, and emphasizes the importance of adhering to campaign finance laws.

What was the total amount of income Mr. Cohen failed to report from 2012 to 2016?

• $1.3 million

• $4.1 million

• $3.2 million

• $2.5 million

What did Mr. Cohen fail to disclose in his home equity line of credit application?

• More than $14 million in debt

• His annual income

• His tax returns

• His employment status

For what purpose did Mr. Cohen make excessive personal contributions?

• To influence the 2016 election

• To pay off personal debts

• To support a charity

• To invest in a business

Why are campaign finance laws important according to the transcript?

• They help reduce taxes

• They prevent illegal money in elections

• They increase corporate profits

• They simplify legal procedures

What message does Mr. Cohen's guilty plea send about corporate contributions?

• They are encouraged by law

• They are illegal

• They are tax-deductible

• They are optional