Donald Trump’s firm fined $1.6m for executive tax evasion | UK news

Donald Trump’s company has been fined $1.6m (£1.3m) after the firm’s top boss evaded taxes.

A judge could only fine the Trump Organization following its conviction last month of 17 tax crimes, including conspiracy and falsifying business records.

Trump himself was not on trial and has denied knowing anything about illegal tax evasion by his executives.

Neither the former president nor his children, who help run the company, attended the sentencing hearing.

The group was sued through its subsidiaries: Trump Corp was fined $810,000 (£662,976) and Trump Payroll Corp was fined $800,000 (£654,792).

The amount Judge Juan Manuel Mercan imposed was the maximum allowed by law.

He asked the company to pay the full amount within 14 days when the company asked for 30 days.

Prosecutor Joshua Stanglass said the fines accounted for “a small fraction of the Trump Organization’s revenue” and that the tax evasion scheme was “far-reaching and brazen.”

Prosecutors and defense attorneys Photo: Associated Press
Prosecutors and defense attorneys.Photo: Associated Press

Although the fine was less than an apartment in Trump Tower, the conviction is a stain on the Republican’s reputation as he prepares for his campaign. 2024 Presidential Campaign.

Lawyers for the company have vowed to appeal the verdict, while Trump has said the case against his company is part of a politically motivated “witch hunt” against him by vengeful Democrats.

Along with the company, former Trump Organization CFO on Tuesday Allen Weisselberg sentenced to five months in prison This comes after he was found guilty of evading $1.7m (£1.4m) in work allowances and 15 other tax crimes he pleaded guilty to in August 2021.

Alan Weisselberg
Alan Weisselberg

During the four-week trial, prosecutors said Trump personally signed the bonus check, as well as a lease on Weisselberg’s luxury Manhattan apartment and private school tuition for the chief financial officer’s grandchildren.

Weisselberg later denied that Mr. Trump was involved in the fraudulent scheme.

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But Trump faces several other legal challenges as he seeks to retake the White House next year.

New York Attorney General Letitia James is suing Trump and his organization for $250m (£204m), alleging they misled banks and other institutions about the value of his numerous assets.

last month, Jan. 6 Commission recommends criminal charges Against the former president’s role in sparking the violent riots at the U.S. Capitol.

The FBI is also investigating Mr. Trump’s storage of classified documents, which is also facing President Joe Biden after he appointed a special counsel investigative documents Found in his home and former Washington office.

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