The ex-president himself is not part of the indictment, but his real estate company is.
(Photo: AP)
new York Former US President Donald Trump’s company was found guilty of tax fraud in New York on Tuesday. The public prosecutor had accused the Trump Organization of not taxing non-cash benefits for high-ranking managers, such as company cars and official apartments, for years. The company now faces a fine of up to $1.6 million — a relatively small amount for a company of its size, although the conviction could make future business difficult.
The jury found two Trump Organization companies guilty of all 17 counts, including charges of conspiracy and falsifying business records. The ex-president was not part of the indictment. But prosecutors stressed during the trial that Trump condoned the business dealings.
New York State Attorney General Letitia James welcomed the jury’s verdict and the successful work of Manhattan District Attorney Alvin Bragg, who supported her. “This ruling sends a clear message that no one or organization is above our laws,” James said.
The Attorney General is also handling another lawsuit against Trump. This is a civil fraud lawsuit against Trump’s company and his children, Donald Junior, Eric and Ivanka. In it, James accuses the Trump family and the Trump Organization of making the company’s assets larger or smaller as needed: larger to get credit, smaller to pay less tax.
Top jobs of the day
Find the best jobs now and
be notified by email.
Deutsche Bank is also said to have granted loans based on exaggerated valuations, James explained. The Trump Organization is the holding company that unites the family’s hotels and real estate.
Trial in New York against Trump organization: Ex-President speaks of witch hunts
Trump has described the latest trial as part of a politically motivated “witch hunt” unleashed against him by vengeful Democrats. “Homicide and violence are at an all-time high in New York, and prosecutors have devoted almost all of their time and money to a political witch hunt for Washington DC against ‘Trump’ over pecuniary gain,” the ex-president commented Tuesday on the trial.
Neither Trump nor any of his children, who have worked as Trump Organization executives, have been charged with any wrongdoing. However, prosecutors said Trump knew about the tax fraud. The ex-president and the company’s lawyers denied this.
The case was centered on former Trump Organization chief financial officer Allen Weisselberg. He pleaded guilty to tampering with the company’s financial records to illegally suppress his taxes. He testified in court as a witness for the prosecution and in return received a reduced prison sentence of five months.
In order to obtain a guilty verdict against the Trump Organization, prosecutors had to convince the jury that Weisselberg or his subordinate, Senior Vice President and Controller Jeffrey McConney, was acting on behalf of the company and that the company also benefited from the plan. The defense, on the other hand, repeatedly stated during the four-week process that Weisselberg had acted alone and only for his own benefit. The company cannot be held responsible for this.
With agency material
More: Fraud, secret documents, electoral interference: These are Trump’s current problems with the judiciary
First publication on 12/06/22 at 10:53 p.m.