Trump's company to be fined for fraud
New York court ordered two business empire divisions 45th President of the United States Donald Trump – Trump Corporation and Trump Payroll Corp – to pay the maximum possible fine under state law in the amount of $1.61 million in a tax fraud case, writes Reuters.
The decision comes after a jury found the Trump Organization guilty in early December 2022 of tax crimes committed by two of its former employees, including fraud, conspiracy, criminal tax fraud, and falsification of business records.
Attorney defense attorney Susan Necheles said Trump's company plans to file an appeal. In turn, Manhattan District Attorney Alvin Bragg, whose office initiated the case, said that he was continuing a criminal investigation into the business practices of the ex-US president.
“Today's decision, together with the verdict handed down earlier this week, closes an important section of our ongoing investigation into the former president and his business. Now we will move on,” Bragg told reporters.
He was referring to the sentencing of former Trump Organization CFO Allen Weisselberg, who has worked for the Trump family for about fifty years. He was sentenced to five months in prison after he testified as the main prosecution witness.
The case was based on testimony from Weisselberg and Trump Organization finance manager Jeffrey McConnie. Both confessed during their testimony to the alleged crimes related to financial fraud. Because McConnie was called as a witness, he was granted immunity in the case under New York law.
In his testimony, Weisselberg detailed how he and McConnie misled the New York state and federal tax authorities from 2005 to 2020. In particular, the former CFO of the Trump Organization admitted that he conspired with the company to obtain undeclared benefits, such as apartments in an expensive Manhattan area, luxury cars for himself and his wife, and private school education for his grandchildren.
Trump Organization – it is Trump's business empire, which is engaged in real estate and hospitality operations and owns a golf resort. Its Trump Tower headquarters is located in New York.
At the same time, Trump is featured in another tax fraud investigation by the New York State Attorney's Office. If found guilty, the ex-president of the United States and his three children face a $250 million fine, a ban on holding executive positions in state companies, and a ban on buying real estate there for five years.
This is not the only high-profile investigation , which features Trump planning to run for President of the United States in 2024.
A congressional investigation into the events of January 6, 2021 under the Capitol has concluded, in which Trump could be accused of sabotaging his duties as supreme commander. There are also suspicions that Trump may have interfered with the approval of the results of the presidential elections in the state of Georgia.
In addition, in August, the Federal Bureau of Investigation conducted searches at the residence of the 45th US President in Mar-a-Lago, where he, probably, in breach of procedure, kept secret documents. Trump could face jail time for this.
Prepared by: Nina Petrovich