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Trump Organization found guilty on criminal tax fraud charges - The Independent

Trump Organization found guilty on criminal tax fraud charges - The Independent

Trump Organization found guilty on criminal tax fraud charges - The Independent
Dec 07, 2022 2 mins, 9 secs

Mr Trump has not been found guilty of any crimes himself but his companies could have trouble getting loans or doing business in the future.

A New York City jury has convicted two subsidiaries of former president Donald Trump’s eponymous real estate and licensing company, the Trump Organization, on charges stemming from what prosecutors described as a sweeping, multi-decade scheme to avoid paying payroll taxes by compensating top executives with untaxed benefits such as housing and automobiles.

Jurors rendered a guilty verdict on all of the charges included in an indictment filed last year against the Trump Corporation, the Trump Payroll Corporation, and the Trump Organization’s long-time chief financial officer, Allen Weisselberg.

Prosecutors also alleged that other Trump Organization executives received similar forms of non-monetary compensation amounting to millions of dollars, none of which was properly accounted for when it came time for the company to pay taxes on employee pay and benefits.

Mr Trump had hardly been mentioned during the weekslong trial, but as he showed jurors company payroll documents showing the untaxed compensation, he placed blame squarely on the former chief executive.

He said he was justified in using Mr Trump’s name because it is his company on trial, and because Mr Trump is still the head of the company.

Mr Trump has long argued that the case against his company is part of a long-running “witch hunt” by Democratic prosecutors aiming to harm his political career, but in her opening statement, prosecutor Susan Hoffinger told jurors that the charges against his company were not political.

“For 13 years 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,” he said.

New York State attorney general Letitia James, who is herself overseeing a massive civil fraud lawsuit against the entire Trump Organization and whose staff assisted the Manhattan prosecutors in bringing the criminal case against the two Trump subsidiaries, said in a statement that she was “proud to assist in this important case” and commended Mr Bragg and his staff for the successful case against the ex-president’s company.

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