Two Trump Organization Companies Found Guilty of Criminal Tax Fraud
(CNN) -- A Manhattan jury has found two Trump Organization companies guilty on multiple charges of criminal tax fraud and falsifying business records connected to a 15-year scheme to defraud tax authorities by failing to report and pay taxes on compensation for top executives.The Trump Corp.
and Trump Payroll Corp. were found guilty on all charges they faced.Donald Trump and his family were not charged in this case, but the former president was mentioned repeatedly during the trial by prosecutors about his connection to the benefits doled out to certain executives, including company-funded apartments, car leases and personal expenses.The Trump Organization could face a maximum of $1.61 million in fines when sentenced in mid-January.
The company is not at risk of being dismantled because there is no mechanism under New York law that would dissolve the company.
However, a felony conviction could impact its ability to do business or obtain loans or contracts.The guilty verdict comes as Trump is under scrutiny by federal and state prosecutors for his handling of classified documents, the effort to overturn the 2020 election results, and the accuracy of the Trump Organization's business records and financial statements.
