NEW YORK - Donald Trump’s real estate company was convicted on Tuesday of carrying out a 15-year-long criminal scheme to defraud tax authorities.The Trump Organisation - which operates hotels, golf courses, and other real estate around the world - faces up to US$1.6 million in fines following the guilty verdicts by a jury on all charges the company faced.Mr Futerfas said the law allowing the company to be found guilty if executives took criminal acts “in behalf of” the company was vague.
The jury deliberated for a total of about 12 hours. Following the verdict, the judge set a sentencing date of Jan 13.While the fine is not expected to be material for a company of the Trump Organisation’s size, the conviction could complicate its ability to do business by spooking lenders and partners.
The case centred on charges that the company paid personal expenses like free rent and car leases for top executives including former chief financial officer Allen Weisselberg without reporting the income, and paid them bonuses as if they were independent contractors. “The smorgasbord of benefits is designed to keep its top executives happy and loyal,” prosecutor Joshua Steinglass told jurors during his closing argument last Friday.
Manhattan District Attorney Alvin Bragg, who was in the courtroom for the verdict, said afterwards: “The former president’s companies now stand convicted of crimes. That is consequential.”