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 Organization’s criminal tax fraud deliberated for a second day Tuesday, Dec. 6, weighing charges that Trump’s company helped executives dodge personal income taxes on perks such as Manhattan apartments and luxury cars. (AP Photo/Rebecca Blackwell, File)
The Associated Press
NEW YORK — Donald Trump’s company was convicted of tax fraud on Tuesday in a case brought by the Manhattan District Attorney, a significant repudiation of financial practices at the former president’s business.
The guilty 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.
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.
As punishment, the Trump Organization could be fined up to $1.6 million — a relatively small amount for a company of its size, though the conviction might make some of its future deals more complicated.
Trump, who recently announced he was running for president again, has said the case against his company was part of a politically motivated “witch hunt” waged against him by vindictive Democrats.
