Status: 06.12.2022 10:58 p.m
A jury in New York found the Trump Organization guilty of tax evasion. Company executives have systematically evaded taxes for years. The company is now facing fines.
Former US President Donald Trump’s family business has been convicted of tax fraud. A jury found the Trump Organization guilty of all 17 counts, according to Manhattan Attorney Alvin Bragg. Trump himself was not charged.
Longtime CFO had testified
During the trial, the company’s longtime chief financial officer, Allen Weisselberg, pleaded guilty. In his testimony, he admitted that he and other employees had systematically cheated the tax authorities for years. Benefits such as luxury cars and expensive apartments were not taxed. According to the public prosecutor, it is assumed that Trump knew about the practice, which he rejects.
With his statement, the 75-year-old Weisselberg escaped a possible prison sentence of up to 15 years. Instead, he had to pay a total of almost two million US dollars in taxes and fines due and received five months in prison and five additional years of probation. The Trump Organization, which operates hotels and golf courses, among other things, must also expect further fines, the amount of which is to be announced on January 13th.
Fines are likely to be relatively small
However, these will not be particularly high: The only threat is fines of up to 1.6 million US dollars – a relatively small sum for a company of this size. However, the ruling could have an impact on the company’s future business.
Trump described the process as a politically motivated witch hunt instigated by Democrats. The Trump Organization and Trump himself are still being investigated in further proceedings.