Trump Organization Found Guilty In Tax Fraud Trial

During the trial on Monday, the Trump Organization was found guilty of tax fraud, with the Manhattan DA, Alvin Bragg, saying that they passed off holiday bonuses as consulting fees.

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After being accused with felony tax fraud and fabricating corporate documents, the Trump Organization and the Trump Payroll Corp. were found guilty of tax fraud by a Manhattan jury. In the case, Trump was not indicted.

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The real estate firm owned by the former president was charged with plotting to deceive tax authorities by paying executives’ personal expenses without disclosing the revenue and rewarding executives as though they were independent contractors.

The Trump Organization entered a not guilty plea and claimed that Allen Weisselberg, its former CFO, worked alone to execute the scheme for his own gain.

An estimated $1.6 million will be paid as a financial penalty.

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Justice Juan Merchan told them before the Monday deliberations started that companies are only liable for criminal activities committed by executives if the conduct did not entirely benefit those executives.

Naturally, Bloomberg is portraying this as the final straw.

It is the first time a Trump business has been convicted of criminal conduct and comes as the former president is running for a second term. The momentous verdict also comes as he faces a raft of other legal perils, including criminal probes of his handling of classified documents and of efforts by Trump and his allies to overturn the 2020 election. -BBG

The Manhattan DA Alvin Bragg demonstrated during the trial how frequently Trump executives passed off holiday bonuses as consulting fees.

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While everything is going on, Letitia James, the attorney general of New York, is pursuing a $250 million civil lawsuit against the Trump Organization on the grounds that the former president and three of his children artificially inflate the worth of the company’s assets. She is asking for sanctions, including a lifetime ban on the four businesses that are already doing business in the state.

The Trump Organization is currently dealing with a “host of intangibles,” according to Bennett Gersham, a professor at Pace University’s law department.

He continued, “This is a significant deal,” adding that the parent company might be prohibited from entering into contracts with governmental organisations and that doing business with banks might become more challenging.

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2 COMMENTS

  1. Ok, now we want to see all the tax records, for the past 10 years of Nancy Pelosi, Chuck Schumer, Peter Schiff, Christopher Wray, Roy Blunt and myriad of others. And the American people have a right to see ALL of it!

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