Donald Trump’s Organization found guilty of tax fraud

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Donald Trump’s Organization found guilty of tax fraud

Two The Trump Organization companies have been found guilty on multiple charges of criminal tax fraud and falsifying business records connected to a 15-year scheme.

The Trump Corp. and Trump Payroll Corp — the two companies — are owned by former United States President Donald Trump.

Juan Merchan, the justice who presided over the trial in state court in New York on Monday, 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.

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.”

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