Trump Organization fined $1.6 million in tax fraud case – update

TO UPDATE: A New York judge fined the Trump Organization up to $1.6 million after it was found guilty of criminal tax fraud and other charges last month.

According to the AP, the judge, Juan Manuel Merchan, delivered the verdict on Friday. The amount was the highest he could ask for from the company.

Former President Donald Trump was not charged in the settlement. A jury ruled last month that CFO Allen Weisselberg and other company executives received compensation in the form of personal expenses that went off the books and did not appear on tax forms.

Weisselberg was sentenced to five months in prison earlier this week after previously pleading guilty in the case.

Manhattan District Attorney Alvin Bragg said in a statement: “While corporations cannot serve prison time, this resulting conviction and sentence serves as a reminder to corporations and executives that you cannot cheat the tax authorities and get away with it. ” It’s also an important reminder that our state laws need to be changed so we can impose tougher penalties and sanctions on businesses that commit crimes in New York. Today’s sentencing of The Trump Corporation and The Trump Payroll Corp. represents an important chapter in our ongoing investigation into the former president and his companies.”

A spokesperson for the Trump Organization said: “Allen Weisselberg is a victim. He was threatened, intimidated and terrorized. He had a choice of pleading guilty and serving 90 days in jail or serving the rest of his life in prison – all over a company car and the usual benefits. President Trump and the Trump Organization are also victims. New York has become the world capital of crime and murder, but these politically motivated prosecutors will do whatever it takes to catch President Trump and continue the endless witch hunt that began the day he announced his presidency. We have done nothing wrong and will appeal this verdict.”

EARLY December 6: A jury in New York convicted the Trump Organization of tax fraud and a number of other charges.

The jury found two of Trump’s companies guilty of criminal charges of tax fraud, which included fraud, conspiracy and falsifying business records. According to the Associated Press, sentencing is scheduled for Jan. 13 with a maximum fine of $1.6 million.

The jury deliberated for two days.

Trump himself was not charged in the case, but Manhattan District Attorney Alvin Bragg found that the jury issued the first criminal convictions against Trump’s actions.

“It was a case of greed and fraud. No company is above the law in Manhattan,” Bragg said in a statement. “For thirteen years, Trump Corporation and Trump Payroll Corporation got away with a system that provided top executives with lavish benefits and allowances while intentionally hiding benefits from the IRS to evade taxes. Today’s ruling blames these Trump companies for their long-standing criminal conspiracy , along with CFO Allen Weisselberg, who pleaded guilty, testified in court and is now serving prison time.

Weisselberg pleaded guilty in August to 15 counts of tax fraud and evasion. The plea required him to testify against the Trump Organization, but not against Trump himself. During the trial, however, prosecutors pointed to Trump’s role and accused him of abetting the fraud.

At the heart of the case were allegations that Weisselberg and other company executives received compensation in the form of personal expenses that were not reported on tax forms. Prosecutors allege Weisselberg received about $1.76 million in undisclosed compensation, including rent for a luxury apartment and a Mercedes Benz for him and his wife, and payment of his grandchildren’s private school tuition.

The conviction is just one aspect of the mounting legal troubles facing Trump, who has announced his 2024 presidential bid. He has since been widely criticized for inviting Kanye West and white nationalist, who peddles anti-Semitism, Nick Fuentes to dinner at Mar-a-Lago. Over the weekend, Trump called for the “cancellation” of the Constitution to repeat the 2020 presidential election after reports surfaced of Twitter’s content moderation during this year’s election campaign.

New York Attorney General Letitia James, who worked with Manhattan lawyers on the case and filed a separate fraud complaint against the company, Trump and his children, said in a statement: “We cannot or tolerate organizations that violate our laws.” bags.”