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Tax Fraud In Trump’s Organization

After two days of jury deliberation in New York, the Trump Organization was convicted on all counts on Tuesday. The company is synonymous with the former president, but neither he nor his family members were personally prosecuted.


Mr Trump said he was "disappointed" with the verdict and called the case a "witch hunt" again. For more than a decade, the company was convicted of enriching its top executives with off-the-books benefits.


Prosecutors claimed that untaxed perks included luxury cars and private school fees, which compensated for lower wages and thus reduced the amount of tax the company was required to pay. The company is expected to pay a fine of around $1.6 million (£1.3 million) and may have difficulty obtaining loans and financing in the future.


Mr. Trump previously called the trial politically motivated. He also went after his long-serving former chief financial officer Allen Weisselberg after he pleaded guilty and testified against the company in August. In his most recent statement, he questioned why the Trump Organization should be prosecuted for Mr Weisselberg's "personal conduct," accusing him of "committing tax fraud on his personal tax returns."


Trump relied on a highly respected and expensive accounting firm and law firm at the time to do this work, said in a statement released by his office. This case is unprecedented, and it is a continuation of the Greatest Political Witch Hunt in our Country's History, he said, adding that New York City was now a "hard place to be a Trump."


During the six-week trial, prosecutors accused the Trump Organization, which operates hotels, golf courses, and other properties around the world, of having a "culture of fraud and deception." They claimed it engaged in a scheme that allowed some executives to "understate their compensation," allowing their taxes to be "significantly less than the amounts that should have been paid."


During closing arguments, prosecutor Joshua Steinglass told the jury, The smorgasbord of benefits is designed to keep its top executives happy and loyal. Trump Organization subsidiaries Trump Corp and Trump Payroll Corp were found guilty on all 17 counts of tax fraud and falsifying business records.


On Tuesday, Manhattan District Attorney Alvin Bragg praised the verdict, saying it was "about greed and cheating."

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