An alleged 15-year operation to pay senior executives “off the books” in order to assist them to evade taxes was linked to former president Donald Trump’s organization.
The Trump Organization was found guilty of all counts by a New York jury on Tuesday in connection with a massive, 15-year tax fraud conspiracy, which the prosecution claimed was engineered by the company’s senior executives, according to a report from NBC News.
New York Jury
After little over a day of deliberation, the jury found the defendants guilty on all 17 charges, which included schemes to defraud, conspiracies, criminal tax fraud, and fabricating company documents.
When the corporation is punished, penalties will likely total around $1.6 million. On January 13, 2023, the sentence is anticipated to take place.
Manhattan District Attorney Alvin Bragg told reporters that the former president’s businesses have now been found guilty of crimes, with the underlying case being one of “greed and cheating,”
The Manhattan district attorney’s office spent several years looking into the financial operations of the Trump Organization, which led to the indictment of both the organization and Allen Weisselberg, its former longstanding top financial officer, last year.
Company’s Subsidiaries
The company’s two subsidiaries, Trump Corp. and Trump Payroll Corp., were accused by the prosecution of paying their “Weisselberg was among the already highly compensated executives who received an increase in pay by “cheating on their taxes” through a number of schemes that included extra benefits like free apartments and luxury cars.
Bragg said in a statement that the “verdict holds these Trump companies accountable for their long-running criminal scheme” and that “the Trump Corporation and the Trump Payroll Corporation got away with a scheme that awarded high-level executives with lavish perks and compensation while intentionally concealing the benefits from the taxing authorities to avoid paying taxes.””
Trump declared in a statement that he “will appeal” despite being “disappointed with the decision in Manhattan.”
He described the situation as “unprecedented” and “a continuation of the Greatest Political Witch Hunt in the History of our Country.” He said that it was difficult to be “Trump” in New York City since so many people and companies were leaving the once-famous city.
Weisselberg, 75, who was the primary witness for the prosecution, admitted guilt to 15 felony charges in August. The businesses said that Weisselberg, who is still employed by the Trump Organization, was the only bad guy. They said he designed the strategy for his own gain, not the gain of the business.
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