Log in
Log in
Or log in with
GoogleGoogle
Twitter Twitter
Facebook Facebook
Apple Apple     
Sign up
Or log in with
GoogleGoogle
Twitter Twitter
Facebook Facebook
Apple Apple     

MERCEDES-BENZ GROUP AG

(MBG)
  Report
Real-time Estimate Tradegate  -  03:04 2022-09-28 am EDT
54.06 EUR   -0.85%
09/27FACTBOX - How Germany's industrial giants are preparing for winter
RE
09/27For Private And Business Customers : Launch for Vans in the Mercedes-Benz Online Store
AQ
09/26Indicated demand for shares in Porsche AG exceeds full deal size - bookrunners
RE
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisionsFunds 
SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

Trump Organization, ex-CFO to face October criminal tax fraud trial in New York

08/12/2022 | 11:32am EDT
Allen Howard Weisselberg, Trump Organization former CFO departs criminal court after a hearing for his tax evasion case

(Reuters) - A New York state judge on Friday refused to dismiss criminal tax fraud charges against Donald Trump's namesake company and its longtime financial chief, one of a slew of legal battles involving the former U.S. president.

Justice Juan Merchan in Manhattan also said jury selection for the trial of the Trump Organization and its former Chief Financial Officer Allen Weisselberg will begin on Oct. 24, 15 days before the Nov. 8 midterm elections.

Donald Trump is not among the defendants.

The judge rejected arguments by Trump's New York City-based company and Weisselberg that they had been selectively prosecuted, and that federal courts were better positioned to determine whether the Internal Revenue Service had been defrauded, among other bids to dismiss charges.

The judge did toss one charge from the 15-count indictment against the Trump Organization because it had been brought too late.

Hearings on other motions are scheduled for September.

In the indictment, the Trump Organization and Weisselberg are accused of having defrauded tax authorities over 15 years by awarding "off-the-books" benefits to company executives.

Weisselberg was charged with evading $1.7 million of income, including rent for a Manhattan apartment, lease payments for two Mercedes-Benz vehicles and tuition for family members, with Trump signing checks for the tuition himself.

Other charges in the indictment include scheming to defraud, tax fraud and falsifying business records.

The defendants have pleaded not guilty. The Trump Organization could face fines and other penalties. Weisselberg is also charged with grand larceny, which carries a maximum 15-year prison term on conviction.

The charges arose from an investigation by former Manhattan District Attorney Cyrus Vance. Vance's probe into Donald Trump's activities appeared to lose steam after Alvin Bragg succeeded him as district attorney in January.

Two prosecutors who had been leading the probe resigned in February, and one, Mark Pomerantz, has said he believed felony charges should be brought against the Republican former president but that Bragg indicated he had doubts.

Bragg's office has said the investigation is continuing.

Friday's hearing came as the United States is asking a federal judge in Florida to unseal a search warrant executed on Monday at Trump's Florida residence, along with a redacted list of the items retrieved by FBI agents.

Separately, Trump spent several hours on Wednesday in a deposition for New York Attorney General Letitia James' civil probe into his business practices.

Trump refused to answer questions, invoking his Fifth Amendment constitutional right against self-incrimination.

(Reporting by Karen Freifeld in New York; editing by Jonathan Oatis)

By Karen Freifeld and Jonathan Stempel


© Reuters 2022
All news about MERCEDES-BENZ GROUP AG
09/27FACTBOX - How Germany's industrial giants are preparing for winter
RE
09/27For Private And Business Customers : Launch for Vans in the Mercedes-Benz Online Store
AQ
09/26Indicated demand for shares in Porsche AG exceeds full deal size - bookrunners
RE
09/26Auto suppliers feel the green squeeze as carmakers get clean
RE
09/26Mercedes-Benz CEO: 'No Acquisitions on the Cards'
MT
09/26Auto suppliers feel the green squeeze as carmakers get clean
RE
09/23Continental revamped compliance team after air-conditioning parts problem
RE
09/23MarketScreener's World Press Review : September 23, ..
MS
09/23Mercedes-Benz Manufacturing Extra Parts Made Using Natural Gas in Germany
MT
09/23Mercedes-Benz has further gas reduction plans in back pocket, production chief says
RE
More news
Analyst Recommendations on MERCEDES-BENZ GROUP AG
More recommendations
Financials
Sales 2022 144 B 138 B 138 B
Net income 2022 12 181 M 11 692 M 11 692 M
Net cash 2022 23 849 M 22 892 M 22 892 M
P/E ratio 2022 4,81x
Yield 2022 8,17%
Capitalization 58 328 M 55 987 M 55 987 M
EV / Sales 2022 0,24x
EV / Sales 2023 0,20x
Nbr of Employees 172 425
Free-Float 71,0%
Chart MERCEDES-BENZ GROUP AG
Duration : Period :
Mercedes-Benz Group AG Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends MERCEDES-BENZ GROUP AG
Short TermMid-TermLong Term
TrendsNeutralNeutralBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 24
Last Close Price 54,52 €
Average target price 87,49 €
Spread / Average Target 60,5%
EPS Revisions
Managers and Directors
Ola Källenius Chairman-Management Board
Harald Emil Wilhelm Chief Financial Officer
Bernd Pischetsrieder Chairman-Supervisory Board
Markus Schäfer Chief Operating Officer
Sari Maritta Baldauf Member-Supervisory Board
Sector and Competitors
1st jan.Capi. (M$)
MERCEDES-BENZ GROUP AG-19.34%55 987
TOYOTA MOTOR CORPORATION-6.77%186 137
VOLKSWAGEN AG-22.95%81 583
GENERAL MOTORS COMPANY-40.24%51 090
FORD MOTOR COMPANY-42.66%48 203
BMW AG-18.91%45 340