Trump organization, the family real estate company of former us president donald trump, was found guilty of tax crimes after two days of jury deliberations in new york. on tuesday, the company was convicted on all counts of enriching its top executives with off-the books benefits for more than a decade, such as luxury cars and private school fees. the untaxed perks reduced the amount of tax the business was required to pay, and the company is expected to face a fine of around $1.6m (â£1.3m).
Trial ran for six weeks, with manhattan district attorney alvin bragg accusing the trump organization of having a “culture of fraud and deception”. 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. furthermore, mr trump’s long-serving former chief financial executive allen weisselberg pleaded guilty in august and testified against the company, striking a plea deal that will mean he spends no more than five months in jail.
Trump organization sought to reduce its tax bills by providing untaxed benefits to its top executives, which resulted in the company being convicted of tax crimes. mr trump has criticised the trial as politically motivated, and new york attorney general letitia james, who is leading a separate civil case against mr trump and his three eldest children, issued a statement hailing tuesday’s verdict as a “big victory”. the judge set a sentencing date of 13 january for the trump organization.
https://www.bbc.co.uk/news/world-us-canada-63882140?at_medium=RSS&at_campaign=KARANGA
