Donald Trump’s company has been convicted of tax fraud for a scheme by top executives to avoid paying personal income taxes on perks such as apartments and luxury cars.
FILE - Former President Donald Trump announces a third run for president as he speaks at Mar-a-Lago in Palm Beach, Fla., Nov. 15, 2022. Jurors in the Trump Organizations criminal tax fraud deliberated for a second day Tuesday, Dec. 6, weighing charges that Trumps company helped executives dodge personal income taxes on perks such as Manhattan apartments and luxury cars.
The conviction is a validation for New York prosecutors, who have spent three years investigating the former president and his businesses, though the penalties aren’t expected to be severe enough to jeopardize the future of Trump’s company. Trump himself was not on trial but prosecutors alleged he “knew exactly what was going on” with the scheme, though he and the company’s lawyers have denied that.
Though he testified as a prosecution witness, Weisselberg also attempted to take responsibility on the witness stand, saying nobody in the Trump family knew what he was doing.Weisselberg, who pleaded guilty to dodging taxes on $1.7 million in fringe benefits, testified that he and McConney conspired to hide that extra compensation from his income by deducting their cost from his pre-tax salary and issuing falsified W-2 forms.
In that wide-ranging probe, investigators have examined whether Trump misled banks and others about the value of his real estate holdings, golf courses and other assets — allegations at the heart of New York Attorney General Letitia James’ pending lawsuit against the former president and his company.
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