BREAKING NEWSTwo Trump Organization Companies Found Guilty Of Criminal Tax Fraud
Dec. 6 2022, Published 4:51 p.m. ET
A New York City jury found two companies under the formerly Donald Trump-owned Trump Organization guilty on all 17 charges they faced of corporate tax fraud and falsifying business records.
On Tuesday, December 6, The Trump Corp. and Trump Payroll Corp. were found guilty on multiple charges pertaining to a 15-year-scheme in which the Organization gave several of its "already highly paid executives” luxury perks, including expensive cars and luxury apartments as a means of "cheating on their taxes,” prosecutors claimed.
Though Trump and his famous family were not personally tried, the ex-Commander-in-Chief was broached several times throughout the proceedings, prosecutors alleging the ex-POTUS knew of — and potentially sanctioned — several aspects of the scheme.
DONALD TRUMP CLAIMED NEARLY $1 BILLION IN LOSSES IN 2-YEAR PERIOD, FORMER ACCOUNTANT TESTIFIES
While the Trump Organization has been the subject of several criminal investigations, Tuesday’s decision denotes the first time 45’s former business has been convicted of a crime, NPR noted.
- Donald Trump Could Face 'Devastating' Verdict in New York Civil Fraud Trial After Disastrous Testimony: Report
- Grand Jury Convened To Weigh Potential Charges In Trump Organization Probe, Donald Trump Slams Investigation As 'Purely Political'
- Trump Organization & Finance Chief Allen Weisselberg Indicted By Manhattan Grand Jury
Want OK! each day? Sign up here!
The company will face up to $1.61 million in fines come their sentencing next month — a relatively small amount this felony conviction could prove problematic in the group’s future business dealings, potentially posing a hurdle when it comes to securing loans or obtaining contracts.
The verdict comes weeks after Trump formally revealed his plans to run for a second White House term in the upcoming 2024 presidential election, as OK! previously reported.
“In order to make America great and glorious again, I am tonight announcing my candidacy for president of the United States," Trump told a crowd of supporters at his South Beach, Fla., Mar-a-Lago compound on Tuesday, November 15, just one week after Republican's largely-underwhelming performance in the recent midterm elections.
“This will not be my campaign, this will be our campaign all together,” he explained of his Oval Office aspirations.
If elected in November 2024, Trump, who served in the white house from 2017 to 2021, will become the first president to serve two non-consecutive White House terms, CNN noted.
