A judge in Manhattan sentenced the Trump Organization on Friday to for a 'multi-dimensional scheme' to evade taxes.
A judge in Manhattan sentenced the Trump Organization on Friday to for a "multi-dimensional scheme" to evade taxes.While a prosecutor, Joshua Steinglass, conceded the amount is a fraction of the company's earnings he called the scheme it was convicted of "far-reaching and brazen."
The scheme helped former chief financial officer Allen Weisselberg alone evade nearly $2 million in taxes by compensating him off-the-books in the form of rent, car leases and private school tuition payments. Weisselberg has paid back his unpaid taxes plus interest and was sentenced this week to five months in jail.
"A number of these fraudulent practices were explicitly sanction from the top down," Steinglass said during the sentencing hearing.
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Trump Organization fined $1.6 million for tax fraudDonald Trump’s company was fined $1.6 million Friday as punishment for a scheme in which the former president’s top executives dodged personal income taxes on lavish job perks — a symbolic, hardly crippling blow for an enterprise boasting billions of dollars in assets. A fine was the only penalty a judge could impose on the Trump Organization for its conviction last month for 17 tax crimes, including conspiracy and falsifying business records. The amount imposed by Judge Juan Manuel Merchan was the maximum allowed by law, an amount equal to double the taxes a small group of executives avoided on benefits including rent-free apartments in Trump buildings, luxury cars and private school tuition.
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Trump Organization fined $1.6 million for tax fraudDonald Trump's company was fined $1.6 million Friday as punishment for a scheme in which the former president's top executives dodged personal income taxes on lavish job perks.
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Trump Organization sentenced in tax fraud case, fined $1.6 million'The sheer magnitude of this fraud merits the largest financial sanction authorized by law,' Joshua Steinglass said. 'The defendants cultivated a pervasive culture of fraud.'
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After tax fraud conviction, Trump Organization fined $1.6 millionBREAKING: Trump Organization fined $1.6 million for long-running tax fraud scheme involving top executives, including former CFO Allen Weisselberg. (via MaddowBlog)
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Trump Organization fined $1.6 million for tax fraudNEW YORK (AP) — Donald Trump’s company was fined $1.6 million Friday as punishment for a scheme in which the former president’s top executives dodged personal income taxes on lavish job perks — a symbolic, hardly crippling blow for an enterprise boasting billions of dollars in assets.
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Trump Organization fined $1.6 million for tax fraudDonald Trump’s company was fined $1.6 million Friday as punishment for a scheme in which the former president’s top executives dodged personal income taxes on lavish job perks — a symbolic, hardly crippling blow for an enterprise boasting billions of dollars in assets.
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