(NEW YORK) — 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. [time-brightcove not-tgx=”true”] 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. Read More: The Major Ongoing Investigations Into Donald Trump 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. Trump himself was not on trial but prosecutors alleged he “knew exactly what was going on” with the scheme, though he and the company’s lawyers have denied that. The case against the company was built largely around testimony from the Trump Organization’s former finance chief, Allen Weisselberg, who previously pleaded guilty to charges that he manipulated the company’s books and his own compensation package to illegally reduce his taxes. Weisselberg testified in exchange for a promised five-month jail sentence. To convict the Trump Organization, prosecutors had to convince jurors that Weisselberg or his subordinate, Senior Vice President and Controller Jeffrey McConney, were “high managerial” agents acting on the company’s behalf and that the company also benefited from his scheme. Trump Organization lawyers repeated the mantra “Weisselberg did it for Weisselberg” throughout the monthlong trial.
Trump Organization Convicted In Executive Tax Dodge Scheme
MICHAEL R. SISAK / AP, Time
Tue, 12/06/2022 - 2:02pm
Topics: read major ongoing investigations into donald democrats allen weisselberg senior vice president controller jeffrey mcconney trump organization ldquo;weisselberg weisselberg&rdquo ldquo;it joshua steinglass weisselberg&rsquo ldquo;mr manhattan district attorney alvin bragg january district attorney cyrus vance jr new york attorney general letitia james&rsquo on monday new york donald trump manhattan district attorney new york in democrat weisselberg weisselberg bragg bragg vance convicted executive tax scheme company company’s testified case guilty office trial prosecutors argued attempted compensation witness pleaded prosecutor jury income family verdict personal grand perks conviction years brought jurors million lawyers future knew
BING NEWS:
- Ex-Nexus executive granted release 1 month before federal trial on tax fraud allegations
Following a successful motion by his defense attorney, a former Nexus Services Inc. executive was granted bond last week in federal court.
11/12/2024 - 4:47 am | View Link - Trump's impending return to White House brings criminal cases to a halt
A New York jury in May found him guilty of falsifying business records tied to the Daniels payment, making him the first former U.S. president convicted of a felony. Trump told an interviewer on ...
11/6/2024 - 6:21 am | View Link - A Ga. man promoted illegal tax shelters for the wealthy. Now he's headed to federal prison
ExploreFrom January: Georgia men sentenced in landmark tax dodge case Lewis is among a dozen people convicted in the scheme, which involved conservation easements — tax deductions landowners can claim ...
11/6/2024 - 5:08 am | View Link - Donald Trump's Criminal Cases: What Happens Now?
Donald Trump will become the first convicted felon president as he still has several criminal cases tied to him. Following Trump’s reinstatement as commander in chief, the question of what ...
11/6/2024 - 5:04 am | View Link - Trump is a convicted felon. Here’s why he can still vote today
Trump was convicted in Manhattan earlier this year of 34 counts of falsifying business records tied to hush money payments before the 2016 election to adult film star Stormy Daniels. The first ...
11/5/2024 - 4:01 am | View Link - More
Welcome to Wopular
Wopular is an
online newspaper rack,
giving you a summary view of the top headlines from the top news sites.
Senh Duong (Founder)
Wopular,
MWB,
RottenTomatoes
MoviesWithButter : Our Sister Site
- "Expendables 4" Starts Shooting This Fall, Says Randy Couture at the Arnold Sports Festival more
- “Expendables 4” Gets Funding Interest from “Ip Man 3” Financier more
- "Ip Man 3" Distributor Suspected of Box Office Fraud, Parent Company Loses $200M in Market Cap more
- Yen Targets "Ip Man 4" for 2018 Release; Discusses Film with Director, Producer more
- "Ip Man 3" Shatters Expectations with $72M Opening [China Box Office] more