Tuesday, January 31, 2023

Trump Organization found guilty of tax fraud

NEW YORK ( Associated Press) – Donald Trump’s company was found guilty Tuesday of tax fraud by the Manhattan district attorney’s office in a landmark case into the financial practices of the former president’s businesses.

A jury found the two Trump Organization corporate entities guilty on all 17 counts, including fraud and falsifying business files.

The jury reached its verdict after a second day of deliberations in a lawsuit alleging the Trump Organization was complicit in a scheme designed by top executives to avoid paying personal taxes on employment benefits, such as Use of an apartment without rent and an expensive car.

New York prosecutors have spent three years probing the former president and his dealings, though the sanctions are not expected to be severe enough to jeopardize the future of Trump’s company.

As punishment, the Trump Organization could be fined up to $1.6 million, a relatively small amount for a company of this size, although the punishment could complicate future business for the company.

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

Trump was not on trial, but prosecutors claimed he knew “exactly what was going on” with the plan, which he and the company deny.

The case against the company relied primarily on the testimony of Alan Weiselberg, former chief financial officer of the Trump Organization, who previously pleaded guilty to charges that he illegally falsified his taxes with company accounting documents and his own severance package. tampered with to reduce it.

The prosecution promised Weiselberg a five-month prison sentence in exchange for his testimony.

To win the guilty plea, prosecutors had to convince the jury that either Wesselberg or his subordinate, Senior Vice President Jeffrey McConkey, were “senior managers” acting on behalf of the company and that the scheme benefited from the scheme.

For their part, lawyers for the Trump Organization repeated the mantra of “Weiselberg did it for Weiselberg” during the month-long trial. He said the executive had betrayed the trust of the company. No one in the Trump family or company was to blame, they argued.

Although testifying as a prosecution witness, Wesselberg also tried to take responsibility on the stand, saying that no one in the Trump family knew what he was doing.

“It was my own personal greed that brought me to this,” he declared.

Nation World News Desk
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