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Trump organization fined $1.6 million for tax fraud

The tax fraud scheme ran for over 15 years.

Published: January 13, 2023 9:34am

Updated: January 13, 2023 10:31am

A New York judge Friday fined the Trump Organization $1.6 million for a tax fraud scheme for over 15 years. 

Subsidiaries of the Trump Organization – Trump Corp. and Trump Payroll Corp. – were convicted in December 2022 on 17 counts, some of which included criminal tax fraud, falsifying business records, and conspiracy.

Manhattan District Attorney Alvin Bragg said the companies have for too long been getting away "with a scheme that awarded high-level executives with lavish perks and compensation while intentionally concealing the benefits from the taxing authorities to avoid paying taxes," according to NBC News

The Trump Organization belongs to former President Trump who reportedly plans to appeal the verdict. 

The Trump Organization's former chief financial officer, Allen Weisselberg, pleaded guilty last year to 15 counts of tax fraud as part of a deal to cooperate with prosecutors against his longtime employer.

Weisselberg was sentenced last week to five months in jail at Rikers Island, in New York.

The company's lawyers said during the trial said that they had no clue Weisselberg was doing this.

"This case was all about Allen Weisselberg committing tax fraud on his personal tax returns. Every witness repeatedly testified that President Trump and the Trump family knew nothing about Allen Weisselberg’s actions,"Trump attorney Susan Necheles said after the verdict.

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