Trump Organization Hit With Max Penalty In Tax Fraud Case

Former President Donald Trump’s business was ordered to pay the maximum penalty Friday after being convicted on multiple charges related to tax evasion last month.

According to reports, a Manhattan judge fined the Trump Organization $1.6 million for an illegitimate scheme to evade taxes over years that involved giving gifts and perks top executives. The New York Times. Allen Weisselberg (ex-chief financial officer) agreed to plead guilty with prosecutors.

In the centre of the trial regarding the off-the books executive compensation, two Trump Organization subsidiaries, the Trump Corporation, and the Trump Payroll Corporation were. They were found guilty of 17 charges, including tax fraud and falsifying records.

Weisselberg’s testimony was a key component of prosecutors’ success in winning a conviction against the Trump Organization. In return for a lesser sentence, Weisselberg, the former longtime financial chief, agreed to plead guilty. Weisselberg (75) was sentenced this week to five years in Rikers Island prison He will be reportedly The infirmary unit will be his home and he will not be released to the general population.

Manhattan District Attorney Alvin Bragg said Friday that his office’s prosecution of the Trump Organization is only a “chapter,” More potential prosecutions are possible.

“The sentencing today and the sentencing earlier this week closes this important chapter of our ongoing investigation into the former president and his businesses. We now move on to the next chapter,” Bragg said in a press conference after Friday’s sentencing.

Breaking News: Manhattan DA Alvin Bragg hint at a followup indictment of Trump

Prosecutors will say so “now move on to the next chapter.” pic.twitter.com/BrOsNBFwm2

— Jose Pagliery (@Jose_Pagliery) January 13, 2023

The Manhattan District Attorney’s office has continued its investigation into the Trump Organization, recently focusing on alleged hush money payments made to porn star Stormy Daniels prior to the 2016 election. These payments were allegedly intended to cover up an affair between Trump, the porn star. The affair was denied by the former president.

Trump is still under legal pressure from many sources. These include two Department of Justice investigations into Trump’s handling of classified documents, and his involvement in the January 6, 2021 riot at U.S. Capitol. Jack Smith is the special counsel for these investigations.

Trump faces additional court cases in New York. Letitia James, New York Attorney General is Follow up a $250 million civil lawsuit against the former president’s company based on allegations that Trump and other top executives lied about the value of multiple Trump Organization properties to defraud lenders and tax authorities.