Donald Trump ‘s The Trump Organization has been found guilty by a New York City jury in the case alleging the company committed various crimes attempting to evade its tax obligations. The companies convicted are the Trump Organization and Trump Payroll Corp.
The family itself was not charged in the case but its namesake company in fact was likely set to ignite much anger from the impeached former President who himself is under criminal investigation for attempting to overthrow the government.
The company is likely set to face a max of $1.61m in fines though no mechanism in New York exists that would actually dismantle the company because of the conviction. Instead, the company will likely still exist but will persistently struggle to do business and gain loans among other things going forward. A felony conviction will hinder these efforts regardless of those mechanisms not existing. The company is set to be sentenced in January according to reports published on Tuesday.
“This was a case about greed and cheating,” said Manhattan District Attorney Alvin Bragg. “The Trump Corporation and the Trump Payroll Corporation got 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. Today’s verdict holds these Trump companies accountable for their long-running criminal scheme.”