Donald Trump’s company was convicted of tax fraud for helping executives dodge taxes on perks such as Manhattan apartments and luxury cars, a repudiation of financial practices at the former president’s business.
A jury found two corporate entities at the Trump Organization guilty on all 17 counts, including charges of conspiracy and falsifying business records. The verdict came after about 10 hours of deliberations over two days.
The conviction was validation for New York authorities who say their three-year investigation into Donald Trump and his businesses is continuing. The probe, which began as an inquiry into payments made on Donald Trump’s behalf, later changed into an examination of the company’s asset valuation and pay practices.
The company faces a fine of up to $1.6 million.
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“A former president’s companies now stand convicted of crimes. That is consequential,” Manhattan District Attorney Alvin Bragg said, adding, “It underscores that in Manhattan we have one standard of justice for all.”
This comes as Donald Trump launched his 2024 campaign last month during the trial. The former president blasted the verdict as a part of a Democrat-led “MANHATTAN WITCH HUNT!”
“This case is unprecedented and involved no monetary gain to these two Corporations,” Donald Trump said in a statement, adding: “New York City is a hard place to be ‘Trump.’”
The verdict adds to mounting legal woes for Donald Trump, who faces a criminal investigation in Washington over the retention of top-secret documents at his Mar-a-Lago estate, as well as efforts to undo the results of the 2020 presidential election.
