Tuesday, the trump organization, the real estate company owned by former us president donald trump, was found guilty of tax crimes after two days of jury deliberations in new york. the company, which is synonymous with the former president, but neither mr trump or his family members were on trial, was accused of enriching its top executives with off-the books benefits for at least 15 years. two subsidiaries of the trump organization – trump corp and trump payroll corp – were convicted on all 17 charges of tax fraud and falsifying business records.
Company had been engaging in the alleged tax fraud for at least 15 years, with prosecutors accusing the company of having a “culture of fraud and deception” during the trial. the trump organization is expected to face a fine of around $1.6m (â£1.3m) and may also face difficulty in securing loans and financing in the future. mr trump has criticised the trial as politically motivated and has also attacked his long-serving former chief financial executive allen weisselberg after he pleaded guilty and testified against the business.
Said that the company ran a scheme that allowed some executives to “understate their compensation” so that their taxes “were significantly less than the amounts that should have been paid”. this allowed the company to evade taxes and enrich its top executives with off-the books benefits. mr trump and his three eldest children are facing a separate civil suit brought by the new york attorney general, which could see them banned from doing business in the state.