Newsman: A jury in Manhattan has found former President Donald Trump’s company guilty of a long-running criminal tax fraud scheme that lasted into his presidency. Trump and his company have repeatedly faced criminal investigations, this case marks the first time his company has been charged, tried, and convicted on criminal charges.
The jury found two entities controlled by Trump guilty on 17 counts of criminal tax fraud and falsifying business records. The maximum penalty is $1.6 million.
“This was a case about lying and cheating, false documents to the aid of evading taxes for the benefit of individuals and the corporation,” Manhattan district attorney Alvin Bragg said, speaking with reporters after the verdict was delivered.
In a statement, the Trump Organization criticized the verdict and promised to appeal, arguing that blame should fall on the company’s executives and not on the firm itself.
“The notion that a company could be held responsible for an employees’ actions, to benefit themselves, on their own personal tax returns is simply preposterous,” the statement read.
Trump built his political brand, in large part, on his claim that he was an aggressive and successful businessman.
Prosecutors had previously secured a guilty plea last summer from by Trump’s former longtime chief financial Officer Allen Weisselberg, who became the star witness for the prosecution in the case.
But Weisselberg’s co-defendants, two Trump business entities, remained under indictment. Weisselberg previously pleaded guilty to 15 felony tax charges. He admitted hiding the part of his salary that was paid through untaxed benefits like a luxury apartment, Mercedes-Benz leases for him and his wife, and private school tuition for his grandchildren.
On Halloween, prosecutors made their opening arguments in the trial of the Trump Corporation (which encompasses most of his business empire) and the Trump Payroll Corporation (which processes payments to staff), arguing that the case was about “greed and cheating.”
