Trump organisation found guilty of tax fraud
Two organisation 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.
CBS reported that the companies called Trump Corporation and Trump Payroll Corporation are guilty after testimony and closing arguments concluded in the six-week trial.
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.
According to CBS report, Weisselberg pleaded guilty in August and agreed to testify against the company as part of a deal with
The Trump Organisation’s lawyers said Trump and his company were “betrayed” by Weisselberg.
Prosecutors said Weisselberg was one of several executives who received large annual bonus cheques, signed by Trump and recorded as if they were payments to independent contractors, and luxury bonuses such as high-end apartments, private school tuition and cars that were not reported as salary.
And Manhattan Assistant District Attorney Joshua Steinglass said during his closing argument that Trump knew about it.
“The fact is this was sanctioned, and that the practice was known to Mr Trump,” Steinglass said.
The Trump Organisation could face up to $1.6 million in fines. Sentencing is expected to take place on January 13, 2023.
