Donald Trump’s family business was found guilty of tax fraud by a New York jury Tuesday, dealing a blow to the ex-president as he eyes the White House again.
The Trump Organization and separate entity the Trump Payroll Corp were found guilty on all counts, marking the first time the companies had ever been convicted of crimes.
“This was a case about greed and cheating,” said Manhattan District Attorney Alvin Bragg, who prosecuted the case.
Trump himself was not charged but the fact the sprawling real-estate, hotel and golf business that bears his name is now a convicted felon is likely to inflict damage to his reputation as he seeks the Republican nomination for the presidency in 2024.
The two entities were convicted of running a 13-year-scheme to defraud and evade taxes by falsifying business records. In all, they were found guilty on 17 counts.
Jurors agreed with prosecutors that the Trump Organization — currently run by Trump’s two adult sons, Donald Jr and Eric Trump — hid compensation it paid to top executives between 2005 and 2021.
Longtime CFO Allen Weisselberg, had already pleaded guilty to 15 counts of tax fraud, and testified against his former company as part of a plea bargain. He did not implicate Trump during the trial.
A close friend of the Trump family, the 75-year-old Weisselberg admitted he schemed with the company to receive undeclared benefits such as a rent-free apartment in a posh Manhattan neighborhood, luxury cars for him and his wife and private school tuition for his grandchildren.
According to his plea deal, Weisselberg agreed to pay nearly $2 million in fines and penalties and complete a five-month prison sentence in exchange for testimony during the trial, which started in October.
Trump, posting on his social media platform, said the Trump Organization bore no responsibility for “Weisselberg committing tax fraud on his personal tax returns.”
Under the headline “Manhattan Witch Hunt!” Trump said no benefit accrued to the company from Weisselberg’s actions, and that neither he nor any employees were “allowed to legally view” the CFO’s returns.
Trump said he was “disappointed with the verdict” and will appeal
