Trump Organisation Found Guilty Of Tax Fraud
Two organisational companies belonging to the former President of the United States, Donald Trump, have been found guilty on all charges of tax fraud and other crimes.
A jury in New York gave the verdict on 17 criminal counts as announced in court on Tuesday afternoon after the deliberations started on Monday.
Both companies were indicted in July 2021, along with the company’s seasoned chief financial officer, Allen Weisselberg.
They were accused of using a variety of methods to cut payroll liability from executive salaries through untaxed bonuses and luxury benefits worth millions.
Juan Merchan, the justice who presided over the trial in state court in New York, said the Trump Organization — which operates hotels, golf courses, and other real estate outfits around the world — was found guilty on all charges of tax fraud.
The case centred on charges that the company paid personal expenses like free rent and car leases for executives — including Allen Weisselberg, former chief financial officer — without reporting the funds.
However, Trump was not charged in the case.
However, according to testimony during the four-week trial, the former president had a hand in the fraud as he reportedly signed bonus checks annually, paid private school tuition for Weisselberg’s grandchildren, authorised the lease for his luxury Manhattan apartment and approved a salary deduction for another executive.
While the company is not at risk of being dissolved, the charges could impact its ability to do business such as obtain loans or contracts.
“This was a case about greed and cheating,” said Alvin Bragg, Manhattan’s district attorney.
“The Trump Corporation and the Trump Payroll Corporation got away with a scheme that awarded high-level executives with lavish perks and compensation while intentionally concealing the benefits from the taxing authorities to avoid paying taxes.
“Today’s verdict holds these Trump companies accountable for their long-running criminal scheme.”
The charges come weeks after Trump announced his bid for the White House in 2024
Currently, he is the subject of multiple investigations into his conduct before, during, and after his first term as president.
The investigations include allegations of fraud by his family business, his role in the 2021 attack on the US Capitol, his attempt to overturn the 2020 election, and the stashing of classified documents at his residence at Mar-a-Lago.
He also faces a $250 million civil lawsuit from the New York attorney general over allegations that he and his children were involved in a decade-long fraud.
The presiding judge set a sentencing date for January 13.