Video After The Jump
The Trump Organization was convicted Tuesday over what prosecutors say was a 15-year scheme to defraud state & federal tax authorities.
Former President Trump's company could face up to $1.6 million in fines & the guilty verdict could hinder his ability to conduct business in New York City.
The big picture: Trump Organization & its Chief Financial Officer Allen Weisselberg were charged in 2021 with tax-related offenses, including paying executives with "off the books" compensation, such as apartments & luxury cars.
*The indictment said that the Trump Organization operated the yearslong scheme to allow some employees to "understate their compensation" so that their taxes "were significantly less than the amounts that should have been paid."
*Weisselberg pleaded guilty in August to all 15 counts in the indictment from the Manhattan district attorney's office. He was also required to testify as part of the plea deal.
Trump has criticized the charges as politically motivated.
The former president & his family were not charged in the case.
"We can have no tolerance for individuals or organizations that violate our laws to line their pockets," New York Attorney General Letitia James said. "I commend Manhattan District Attorney Alvin Bragg & his team for their successful prosecution of the Trump Organization & I was proud to assist in this important case," James said.
Trump also faces an investigation by the Department of Justice over efforts to overturn the 2020 presidential election results & his handling of classified documents.
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Source: AXIOS
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