Two Trump Organisation companies are found guilty of tax fraud

  • 📰 TheEconomist
  • ⏱ Reading Time:
  • 69 sec. here
  • 3 min. at publisher
  • 📊 Quality Score:
  • News: 31%
  • Publisher: 92%

United Kingdom News News

United Kingdom United Kingdom Latest News,United Kingdom United Kingdom Headlines

The criminal conviction could interfere with the firms’ ability to get access to financing. And it will surely serve as fodder for Donald Trump’s rivals during his re-election campaign

, luxury apartments, expensive private-school tuition, furniture for a Florida home, flat-screen televisions, carpet and cheques stuffed into Christmas card envelopes. These untaxed, off-the-book perks were among the items paid by two entities of the Trump Organisation, Donald Trump’s real-estate company, to a handful of its top executives, including Allen Weisselberg, the company’s former chief financial officer who was Mr Trump’s long-serving lieutenant.

Mr Weisselberg was the prosecution’s star witness. He pleaded guilty to tax fraud and will serve just five months in jail. Before the trial, which was brought by Manhattan’s district attorney, he was granted immunity in exchange for testifying for the prosecution. During his summation Michael van der Veen, one of the defence lawyers , urged the jury to treat Mr Weisselberg’s testimony with scepticism because “the prosecution have him by the balls.

A tax trial is rarely interesting. But this one, which began in October after a three-year investigation, has been fascinating—notwithstanding pages of spreadsheets, excerpts from ledgers presented on two enormous screens in the courtroom and hours of testimony given by accountants. Mr Weisselburg testified that he knew he owed taxes on the perks and that his tax filings under-reported his income and were false. Importantly, he admitted that the scheme benefited both him and the companies.

Donald Bender, who managed the companies’ taxes for 35 years, as well as Mr Weisselberg’s personal accounts, said during his testimony that if he had known about the tax avoidance he “probably would have had a heart attack”. Mr Bender’s firm cut ties with the Trump Organisation earlier this year because the company’s statements could “no longer be relied upon”. Mr Trump blames Mr Bender for the mess.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 6. in UK
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Shhhhhhhhhhhhhhhhhhhhhhhhocking

The way they(prosecutors) kept asking about trump it’s obvious…

Trump will be on trial forever, for just breathing.

Will it?

White collar crime always the way to go for criminals. Fines or little time in prison for defrauding the government or other people.

the walls are closing in

Anything goes against trump? Everyone went also against Churchill time ago.

Nice engagement - LOSERS - enjoy bankruptcy, bitches

There was really never any doubt that the Trump Organization was a criminal enterprise.

Ok, while we are getting this done, let’s focus on Hunter Biden.

A bias liberal jury. Another example of liberalism being a mental disorder. A jury with Trump derangement syndrome

Why don’t you write about how disgraceful it is that, after sending a submarine up his affairs ass for years, this is what identified? Joke material

how can a corporation commit crimes without individuals who performed the criminal actions not being charged with crimes?

Business as usual

Anchorage 🤔

Wait, what?.Ummm why and how?

the never Trump gang love this...his statement

Trump had not taken money from a legitimate source since Deutsche Bank cut him off. He gets his money from Russia and Saudi Arabia... and all private.

United Kingdom United Kingdom Latest News, United Kingdom United Kingdom Headlines