Trump Organization convicted in executive tax dodge scheme
NEW YORK Donald Trump’s company was convicted Tuesday of tax fraud in a case brought to him by the Manhattan District attorney. This is a significant repudiation for financial practices at Trump’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 of New York prosecutors who spent three years investigating Trump and his businesses. However, the penalties aren’t expected to be severe enough not to threaten Trump’s future.
The Trump Organization could face a $1.6 million fine as punishment. This is a small amount for a company this size, but it might complicate some of its future deals.
Trump recently announced that he was running again for president. He claimed that the case against his company was part a politically motivated witch hunt by vindictive Democrats.
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