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The Trump Organization sentenced to pay USD 1.6 million for tax fraud

The Trump Organization sentenced to pay USD 1.6 million for tax fraud

The Trump Organization was sentenced Friday in New York to pay a fine of $1.6 million for tax and financial fraud, the maximum applicable, the Manhattan prosecutor said in a statement.

The group of billionaire Republican Donald Trump, who aspires to run for the 2024 presidential elections, was tried for tax evasion and falsifying accounting statements, with the aim of hiding financial compensation from some of its leaders.

This is the first criminal case for the former president’s family corporation (2017-2021), which includes golf clubs, luxury hotels and real estate.

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The Trump Organization expects an even larger civil trial in 2023 over a different case of financial fraud.

“Today, former President Trump’s companies were fined the maximum penalties allowed by law after landmark convictions totaling 17 felonies.”Prosecutor Alvin Bragg said in a statement.

Two companies in the group, Trump Corporation and Trump Payroll Corporation, were accused of having granted economic or in-kind benefits to senior executives, hiding them from the tax authorities to avoid paying taxes, between 2005 and 2018.

Among them is a former CFO of the company, Allen Weisselberg, who is very close to Trump, who pleaded guilty to 15 charges and was sentenced Tuesday for the same case to five months in prison and a fine of more than two million dollars. .

He was accused of benefiting from free rent for a luxury Manhattan apartment, making Mercedes cars available, and paying private school tuition for his grandchildren, resulting in approximately $1.76 million in unearned income. declared for years.

When his sentence was announced, Weisselberg, 75, who began working in 1973 as an accountant for Trump’s father, left in handcuffs for Rikers Island prison.

betray trust

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On December 6, when his guilt was announced, the Trump Organization informed, through one of its lawyers, Susan Necheles, that it would appeal, while seeking to blame Weisselberg, assuring that he himself had “testified under oath (haber)’betrayed‘ the confidence (of) the company”.

Trump, who has repeatedly denounced a “Witch hunt”, has not been personally accused of this trial and is not charged in any legal case at the moment, but sees how the files accumulate in the courts as he enters the race for the candidacy of the Republican party for 2024.

In the two most high-profile cases, the attack by his supporters on the headquarters of Congress on January 6, 2021, and the attempts to overturn the results of the 2020 presidential election, special counsel Jack Smith must investigate in particular possible lawsuits by the role of the former president (2017-2021).

Although he does not face criminal charges, the billionaire will appear before a New York civil court, with three of his children – Donald Jr, Eric and Ivanka – also accused of fraudulent tax practices within the Trump Organization.

In this case, the New York State Attorney General, Letitia James, accuses the Trump family of having “deliberately” manipulated the valuations of the group’s assets to obtain more advantageous loans from banks or reduce their taxes.

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James claims 250 million dollars in damages on behalf of the State, as well as the prohibition for the former president and his relatives to manage companies.

Separately, a judge on Friday rejected Trump’s request to dismiss a defamation and injury lawsuit filed by journalist E. Jean Carroll, who claims Trump raped her in a New York department store in the 1990s.

Trump denies the accusation, which he has described as “complete scam”.

Source: AFP

Source: Gestion

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