A Manhattan jury has found two Trump Organization entities, the Trump Corp. and Trump Payroll Corp guilty on all 17 counts, including conspiracy charges and falsifying business records.
The verdict came on the second day of deliberations following a trial in which the Trump Organization was accused of being complicit in a scheme by top executives to avoid paying personal income taxes on job perks such as rent-free apartments and luxury cars, according to the Associated Press.
The executives received fancy apartments, leased Mercedes-Benzes, and even private school tuition for relatives, none of which they paid taxes on.
Donald Trump and his family were not charged in this case, but the former president was mentioned repeatedly during the trial by prosecutors about his connection to the benefits doled out to certain executives.
The Trump Organization could face a maximum of $1.61 million in fines when sentenced in mid-January. The company is not at risk of being dismantled because there is no mechanism under New York law that would dissolve the company. However, a felony conviction could impact its ability to do business or obtain loans or contracts, reports CNN News.
The guilty verdict comes as Trump is under scrutiny by federal and state prosecutors for his handling of classified documents, the effort to overturn the 2020 election results, and the accuracy of the Trump Organization’s business records and financial statements.
The investigation by the Manhattan district attorney’s office into former President Donald J. Trump and his family’s real estate business began more than three years ago, the New York Times is reporting.
Trump is also facing a $250 million civil lawsuit from the New York attorney general alleging he and his adult children were involved in a decade-long fraud.
Allen Weisselberg, the star witness and Mr. Trump’s former chief financial officer and longtime gatekeeper, took a plea deal that required that he testify truthfully in order to get the sentence agreed to, so this likely means he will spend no more than about 100 days behind bars.
The Trump Organization just released a statement taking aim at its long-time chief financial officer, Allen H. Weisselberg, who pleaded guilty and testified at the company’s trial.
“Mr. Weisselberg testified under oath that he ‘betrayed’ the trust the company had placed in him,” the statement said. “The notion that a company could be held responsible for an employee’s actions, to benefit themselves, on their own personal tax returns is simply preposterous.”