Jnews is about news!

Donald Trump’s Company Found Guilty of Tax Fraud in Scheme Hatched by Top Executives – NBC Chicago

Donald Trump’s company was convicted of tax fraud on Tuesday in a case brought by the Manhattan District Attorney, a significant repudiation of financial practices at the former president’s business.

The guilty verdict came on the second day of deliberations following a trial in which the Trump Organization was accused of being complicit in a scheme by top executives to avoid paying personal income taxes on job perks such as rent-free apartments and luxury cars.

The conviction is a validation for New York prosecutors, who have spent three years investigating the former president and his businesses, though the penalties aren’t expected to be severe enough to jeopardize the future of Trump’s company.

Allen Weisselberg, a senior adviser and former chief financial officer at Trump’s company, has intimate knowledge of the company’s financial dealings from his nearly five decades working there. But he is not expected to implicate Trump or any members of the Trump family in his testimony. NBC New York’s Erica Byfield reports.

As punishment, the Trump Organization could be fined up to $1.6 million — a relatively small amount for a company of its size, though the conviction might make some of its future deals more complicated.

Trump, who recently announced he was running for president again, has said the case against his company was part of a politically motivated “witch hunt” waged against him by vindictive Democrats.

Leave a Reply

Your email address will not be published. Required fields are marked *