Donald Trump's Trump Organization found guilty of tax fraud

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Donald Trump's Trump Organization found guilty of tax fraud
Donald Trump's Trump Organization found guilty of tax fraud

The family real estate company of former US President Donald Trump has been found guilty of tax fraud. Trump's company was convicted on all counts Tuesday after two days of jury deliberations in New York. Business is synonymous with the former American president, but neither Trump nor his family members have been tried personally.

Vowing to appeal the ruling, Trump said he was disappointed and again described the case as a "witch hunt." The company was convicted of enriching its top executives with off-the-books benefits for more than a decade.

Trump Org.

attorneys said they plan to appeal.

“This was a case about greed and cheating,” said Manhattan District Attorney Alvin Bragg. “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.

Today’s verdict holds these Trump companies accountable for their long-running criminal scheme”.

Elie Honig said Bragg’s approach has been vindicated.

“Obviously, this is a setback for the Trump Org.

– a major setback for the Trump Org. They’ve now been found guilty of criminal conduct, criminal tax fraud,” Honig told CNN’s Victor Blackwell on “Newsroom”. “It’s also a victory of sorts for the Manhattan district attorney,” Honig said.

“Their theory, now, that part of the income for employees, including Allen Weisselberg, was paid through fringe benefits in order to avoid tax liability – The untaxed perks included luxury cars and private school tuition, prosecutors said, resulting in lower wages and therefore lower taxes the company had to pay to the state.

The company is expected to face a fine of around $1.6 million and could face difficulties in securing credit and financing in the future. Trump has previously criticized the trial and called it politically motivated. He also attacked his longtime former CFO Allen Weisselberg after he pleaded guilty in August and testified against the company's operations.

In his latest statement, outraged by the ruling, the former Republican leader questioned why the Trump Organization should be prosecuted for the "personal conduct" of Weisselberg - accusing him of "committing tax fraud on his personal tax returns." "This case is unprecedented and is the continuation of the largest political witch hunt in the history of our country," he said, adding that New York is now "a tough place for Trump."

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