A NY court fines Trump Corp $1.6million for tax fraud
Washington: Former US Prez Trump’s company, Trump Organization a maximum possible fine of $1.6 million on Friday for a long-running tax fraud scheme, NBC reported.
The scheme “awarded high-level executives with lavish perks and compensation while intentionally concealing the benefits from the taxing authorities to avoid paying taxes,” Manhattan District Attorney Alvin Bragg said after the verdict, as quoted by NBC.
The subsidiaries Trump Corp. and Trump Payroll Corp. were convicted on all charges last month for a tax fraud scheme spanning 15 years. These included 17 counts, including criminal tax fraud, conspiracy, and falsification of business records.
The only person charged was former CEO Allen Weisselberg, who pleaded guilty and became the prosecution’s top witness. He was sentenced earlier this week to five months in jail. (UNI/SPUTNIK)