Money Investors
  • Money
  • Business
  • Cryptocurrencies
  • Lifestyle
  • Opinion
Subscribe
Money Investors
Money Investors
  • Money
  • Business
  • Cryptocurrencies
  • Lifestyle
  • Opinion
  • Business

This was the brazen tax evasion scheme of the Trump Organization

  • February 4, 2023 11:30 AM
  • Augus Curtis
Trump Organization
Total
17
Shares
17
0
0

The Trump Organization, the business empire of former US President Donald Trump, was fined $1.6 million on Friday for tax fraud and other crimes committed as part of a multi-year scheme to help some of its top executives avoid paying taxes on their wages. 

The Trump Corp, and The Trump Payroll Corp, two subsidiaries of the Trump Organization, were both sentenced to the maximum fines possible under New York law. The Trump Organization has denied any wrongdoing and is planning to appeal the verdict. 

The subsidiaries were found guilty of 17 counts, including tax fraud, falsifying business records and conspiracy, as part of what prosecutors have called a “bold and far-reaching” scheme to pay executives “without record keeping.” of this” or “off the books”. The verdict by a New York jury was the first criminal conviction of its kind against Trump’s companies. 

One of these executives was former Trump Organization chief financial officer Allen Wwisselber, who admitted guilt to tax fraud last summer and agreed to cooperate with authorities against his former employer. 

The Manhattan district attorney’s office accused Weisselberg of receiving more than $1.7 million in unreported payments over more than a decade. This compensation came in the form of rent payments or luxury apartments, home furnishings, Mercedes-Benz cars for him and his wife, garage expenses, and tuition payments at private schools for his grandchildren, the officials said. prosecutors. 

Prosecutors and Trump Organization lawyers gathered in Manhattan Criminal Court to receive the verdict in New York City on January 13, 2023. 

Weisselberg and the Trump companies “led and profited from a far-reaching system of fraud for more than a decade,” Manhattan District Attorney Alvin Bragg said in a post-sentencing statement Friday morning. 

“While corporations cannot serve jail time, this sentence and ruling serves as a reminder to corporations and their executives that they cannot defraud authorities on paying taxes and get away with it. It is also an important reminder that our state law must change so that we can impose more significant penalties and sanctions on corporations that commit crimes in New York,” Bragg said. 

The district attorney added that his office’s investigation into Trump and his dealings remains ongoing. 

In a statement after the sentencing, New York Attorney General Letitia James said this “proves, once again, that no one is above the law, not even Donald Trump or his businesses.” 

James’ office is conducting a civil investigation into Trump, his family and his businesses in light of allegations of widespread financial fraud. James has filed a broad civil lawsuit against these parties and others, seeking at least $250 million in damages. 

Total
17
Shares
Share 17
Tweet 0
Pin it 0
Augus Curtis

I'm Augus Curtis the founder & editor of Money Investors. I love money, I love to make it and also to invest it. Here I share some ideas about business and money.

Related Topics
  • Allen Weisselberg
  • Business
  • Donald Trump
  • Money
  • Tax
  • Trump Organization
Editor
Augus Curtis
I'm Augus Curtis the founder & editor of Money Investors. I love money, I love to make…
Featured Posts
  • Modeling Agency Earn 1
    How much a modeling agency earn
    • February 4, 2023 12:08 PM
  • Ethereum 2
    Why you should Invest in Ethereum this 2023
    • February 4, 2023 11:58 AM
  • Bitcoin what is 3
    Why you should Invest in Bitcoin this 2023
    • February 4, 2023 11:48 AM
  • Trump Organization 4
    This was the brazen tax evasion scheme of the Trump Organization
    • February 4, 2023 11:30 AM
  • What is LVMH 5
    What is LVMH: Owner of luxury brands
    • January 15, 2023 6:20 AM
Recent Posts
  • Google Business tools
    5 Google Apps for your online business
    • December 30, 2022 7:15 AM
  • Wordpress work
    10 Advantages of Using WordPress
    • December 30, 2022 6:43 AM
  • Servers hostings
    What Operating System to use in my VPS?
    • December 30, 2022 6:26 AM
Categories
  • Business (87)
  • Cryptocurrencies (34)
  • Lifestyle (42)
  • Money (101)
  • Opinion (74)
  • Travel (2)

ABOUT:

Money Investors is an economic and financial blog that wants to be a source of development of knowledge of the latest advances in studies related to the economy. Analyzing the various most relevant international opinion sources such as The Wall Street Journal, The Guardian, Market Watch, Market Times, BBC News, The New York Times and El País from Spain, we will provide diverse and eclectic approaches for understanding the economic panorama in depth, with a social and critical perspective of the various market players, as well as the institutions and structures that condition the behavior of these markets.

PRIVACY:

We will never disclose or sell your email address or any of your data from this site. We do highly welcome posts and community interaction, and registering is simply part of the posting system.

DISCLAIMER:

Money investors is an independent, advertiser-supported website and may receive compensation for some links to products and services throughout this website. Opinions expressed on this site are the author’s alone, not those of a third-party entity, and have not been reviewed, approved, or otherwise endorsed. Offers may be subject to change without notice. Money Investors exist to thought provoke and learn from the community. Your decisions are yours alone and we are in no way responsible for your actions. Stay on the righteous path and think long and hard before making any financial transaction! Disclosures.

Money Investors
  • About Us
  • Cookies Policy
  • Privacy Policy
  • DMCA
  • Term Of Use
  • RSS
  • Sitemap
  • Contact
© 2022 Money Investors LLC. A Curtis Times Company. All Rights Reserved.

Input your search keywords and press Enter.

We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. By clicking “Accept”, you consent to the use of ALL the cookies.
Do not sell my personal information.
Cookie SettingsAccept
Manage consent

Privacy Overview

This website uses cookies to improve your experience while you navigate through the website. Out of these, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may affect your browsing experience.
Necessary
Always Enabled
Necessary cookies are absolutely essential for the website to function properly. These cookies ensure basic functionalities and security features of the website, anonymously.
CookieDurationDescription
cookielawinfo-checkbox-analytics11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Analytics".
cookielawinfo-checkbox-functional11 monthsThe cookie is set by GDPR cookie consent to record the user consent for the cookies in the category "Functional".
cookielawinfo-checkbox-necessary11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookies is used to store the user consent for the cookies in the category "Necessary".
cookielawinfo-checkbox-others11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Other.
cookielawinfo-checkbox-performance11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Performance".
viewed_cookie_policy11 monthsThe cookie is set by the GDPR Cookie Consent plugin and is used to store whether or not user has consented to the use of cookies. It does not store any personal data.
Functional
Functional cookies help to perform certain functionalities like sharing the content of the website on social media platforms, collect feedbacks, and other third-party features.
Performance
Performance cookies are used to understand and analyze the key performance indexes of the website which helps in delivering a better user experience for the visitors.
Analytics
Analytical cookies are used to understand how visitors interact with the website. These cookies help provide information on metrics the number of visitors, bounce rate, traffic source, etc.
Advertisement
Advertisement cookies are used to provide visitors with relevant ads and marketing campaigns. These cookies track visitors across websites and collect information to provide customized ads.
Others
Other uncategorized cookies are those that are being analyzed and have not been classified into a category as yet.
SAVE & ACCEPT