Trump Organization convicted in tax dodging scheme
- The guilty verdict adds to the legal woes the former US president faces as he makes another bid for the White House in 2024
- While the fine the firm faces is unlikely to have much impact, the conviction could complicate its ability to do business by spooking lenders and partners
Donald Trump’s real estate company was convicted on Tuesday of carrying out a 15-year-long criminal scheme to defraud tax authorities, adding to the legal woes facing the former US president as he campaigns for the office again in 2024.
The Trump Organization – which operates hotels, golf courses, and other real estate around the world – faces up to US$1.6 million in fines following the guilty verdicts by a jury on all all 17 counts the firm faced, including conspiracy charges and falsifying business records.
The company had pleaded not guilty. Trump himself was not charged in the case. The judge set a sentencing date of January 13. Alan Futerfas, a lawyer for the Trump Organization, told reporters the company would appeal.
While the fine is not expected to be material for a company of the Trump Organization’s size, the conviction by a jury could complicate its ability to do business by spooking lenders and partners.
The case centred on charges that the company paid personal expenses like free rent and car leases for top executives including former chief financial officer Allen Weisselberg without reporting the income, and paid them bonuses as if they were independent contractors.