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Trump's company convicted of tax fraud

12/06/2022 | 07:43pm EST

STORY: Donald Trump's real estate company was convicted on criminal charges Tuesday of carrying out a 15-year-long tax fraud scheme, adding to the legal woes facing the former U.S. president as he campaigns again for the White House in 2024.

Jurors found the company guilty on all 17 counts for a scheme prosecutors say included the company paying personal expenses for top executives like free rent for luxury apartments and car leases  -  without reporting the income.. and that the company paid them bonuses as if they were independent contractors.

former C.F.O. Allen Weisselberg , who pleaded guilty in August to concealing $1.76 million in income from tax authorities, testified in this trial that Trump himself signed the Christmas bonus checks and personally paid hundreds of thousands of dollars in private school tuition for Weisselberg's grandchildren.

"We'll certainly be appealing..."

Alan Futerfas, a lawyer for the Trump Organization, said the criminal law governing corporate liability was vague.

"And that was central to the case. So I'm sure that will be among other issues that we take up."

The jury deliberated for a total of about 12 hours, and the judge set a sentencing date of Jan. 13.

The Trump Organization, which operates hotels, golf courses, and other real estate around the world, faces up to $1.6 million in fines - an amount that is not expected to be material for a company of the size of the Trump Organization..

Still, the conviction could complicate its ability to do business by spooking lenders and partners.

The company had pleaded not guilty. Trump himself was not charged in the case..

Trump, who has announced his third campaign for the presidency, had called the probe a politically motivated "witch hunt."


ę Reuters 2022
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