Blow for Trump, according to the indictment, the organization defrauded the tax authorities by hiding the salaries of managers
Yet another ugly blow (image) for the tycoon of the United States: his corporate empire, the Trump Organizationwas fined for defrauding the tax authorities with a “monster” sum of 1.61 million dollars, after being sentenced last month. The former US president was not personally involved in the affair, which instead involved the managers of his company. According to the indictment, the Trump Organization has defrauded the taxman, hiding the fees which were bestowed upon his own top manager in the form of benefits, such as cars and luxury accommodations. At the center of the story were two companies controlled by Trump Organizationthe The Trump Corp. and the Trump Payroll Corp., both convicted in December on 17 counts, including tax fraud and forgery of accounting books.
According to the law of the State of New Yorkthe maximum fine for companies is 1.6 million of dollars, a sum to which the Trump Organization, which has a billion-dollar turnover, should easily cope. The outcome of the court case was determined by the confession of the former CFO of the Trump Organization, Allen Weisselberg, who negotiated a five-month prison sentence. The story is not related to the civil proceeding brought against Trump’s company by the New York attorney general, Letitia Jameswhich also sees the former president and his children accused for having provided false communications regarding the real entity of the company’s assets.
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