(Photo : Amanda Rivkin/AFP via Getty Images)
Tuesday's conviction of two of former President Donald Trump's companies on all counts in a criminal tax fraud conspiracy by a Manhattan jury added a new layer of complexity to the numerous investigations and legal issues around his third presidential bid.
A New York jury convicted The Trump Organization, which runs hotels, golf courses, and another real estate across the world, guilty on all 17 counts, including conspiracy and falsifying corporate documents.
Trump Corporation and Trump Payroll Corporation were found guilty on all charges. Although Donald Trump and his family were not charged in this case, prosecutors mentioned the former president several times during the trial about his connection to the benefits given to certain executives, such as company-funded apartments, car leases, and personal expenses.
Trump Companies Charged For Tax Fraud, Conspiracy
When sentenced in mid-January, the Trump Organization may face a maximum penalty of $1.61 million. The firm is not in danger of being destroyed since there is no process under New York law to dissolve it. A criminal conviction, on the other hand, might jeopardize its capacity to do business or acquire financing or contracts, according to CNN.
Manhattan District Attorney Alvin Bragg, whose office pursued the charges, called the conviction insignificant, adding that it underscores that here in Manhattan we have one standard of justice for everybody.
Defense counsel Allen Futerfas predicted that the decision will be overturned. This may keep the issue in court during Trump's 2024 presidential campaign, possibly with the federal examination into records discovered at Trump's Mar-a-Lago home and other instances, as per USA Today.
Jurors agreed with prosecutors that the Trump Organization, which is now headed by Trump's oldest sons, Donald Jr. and Eric Trump, disguised income given to key employees between 2005 and 2021.
Allen Weisselberg, the former chief financial officer, had previously pled guilty to 15 charges of tax evasion and testified against his former firm as part of a plea agreement. The verdict vindicates New York prosecutors, who have spent three years investigating the former president and his enterprises.
While Trump was not directly charged in the case, prosecutors regularly mentioned him during the month-long trial, arguing that the illicit actions took place right under his nose for years, The Telegraph via MSN reported.
Trump's Attorneys Blame Companies' Former Chief Financial Officer
Trump's attorneys said that Weisselberg, who originally worked for Trump's father Fred when he managed the firm, "betrayed" the corporation and set up the schemes on his authority and for his gain. They said it was his responsibility to state his complete earnings accurately.
Trump has previously faced legal difficulties, including bankruptcies and a settlement in the Trump University lawsuit before taking office, and his foundation was ordered to pay $2 million to charities. But he is now facing unprecedented legal difficulties.
A new special counsel at the Justice Department is in charge of both the January 6 election recount effort and the issue of government documents that Trump took to Mar-a-Lago after leaving office. Trump has called the investigations a politically driven "witch hunt."
He stated last month that his family had "no pecuniary advantage from the executive's conduct." Trump, 76, has suffered a string of setbacks since announcing his third presidential candidacy last month.
The former president's firm risks a punishment of roughly $1.5 million, a relatively minor figure for such a massive corporation, but one that is likely to harm his reputation if he runs for president in 2024. However, the Fulton County, Georgia District Attorney is investigating the election-recall effort in her state, and the civil case in New York is still ongoing, according to Daily Mail.
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