BREAKING NEWS: Donald Trump’s company found GUILTY of tax fraud in scheme hatched by top executives
>
BREAKING NEWS: Donald Trump’s company was found GUILTY of tax fraud in a scheme in which executives received unofficial luxury benefits such as luxury cars and private school fees.
The Trump Organization has been found guilty of fraud in a criminal trial in Manhattan.
The company was found guilty on all counts after facing a series of tax fraud charges.
The verdict carries both the stain of the president’s longtime company being found guilty and possible fines, though he faces a fine of just $1.6 million, a slap on the wrist for a large company.
However, it could harm or complicate future business opportunities, and it tarnishes a company that was instrumental in the former president’s political path to the White House, having been described as a world-class company with the best people.
Trump’s company was accused of running a 15-year criminal scheme to defraud tax authorities.
The scheme included paying personal expenses such as free rent and car leasing for top executives, including former CFO Allen Weisselberg, without reporting income, and paying them bonuses as if they were independent contractors, prosecutors said.
Weisselberg testified for the prosecution, but did not personally implicate Trump.
The Trump Organization has been found guilty of fraud in a criminal trial in Manhattan
Trump himself criticized the impeachment as another part of a far-reaching “witch hunt” against him, saying he faced double standards for being accused of “fringe benefits.”
The verdict came after indictments by two different entities last year: Trump Corporation and Trump Payroll Corporation.
Weisselberg himself pleaded guilty to agreeing to free rental and use of a car and even private school tuition for family members as part of the scheme.
Trump himself does not face criminal liability in the matter, although he faces a separate civil lawsuit by New York AG Letitia James, who is suing the company and family members for $250 million.
The verdict comes a day after Manhattan District Attorney Alvin Bragg announced a high-profile new hire for his office, following reports that his team is reviewing the years-long case involving porn star Stormy Daniels. , who received ‘hush’ payments and claims she was having an affair with Trump. Trump denies the affair.
Trump’s lawyers claimed the company was “betrayed” by Weisselberg, who first worked for Trump’s father Fred when he ran the company, claiming he set up the schemes on his own authority and for his own benefit.
Prosecutors noted that it also benefited the company’s own results.
Trump criticized the prosecution even before a verdict was reached on Tuesday.
‘Murder and violent crime is at an all-time high in New York City, and the district attorney’s office has spent nearly all of its time and money fighting a political witch hunt for DC against “Trump” for the fringe benefits, something that in the history of our country, has never been so judged in court before,’ he wrote on his Truth Social site.
‘Two weeks on trial but no MURDER CASE has gone to trial in 6 years, much to the dismay of the mothers and families of the victims who are devastated that NOTHING is being done to bring about JUSTICE. Too busy on “Donald.”
more to follow