Tuesday, January 31, 2023
No 1 epaper in Sri Lanka
  • News
  • Politics
  • Sports
  • Foreign
  • Entertainment
  • Business
  • Political Analysis
  • Inside Politics
  • EPAPERPDF
  • සිංහලSINHALA
No Result
View All Result
  • News
  • Politics
  • Sports
  • Foreign
  • Entertainment
  • Business
  • Political Analysis
  • Inside Politics
  • EPAPERPDF
  • සිංහලSINHALA
No Result
View All Result
Mawratanews.lk | Sri Lanka Latest Sinhala News and Headlines
No Result
View All Result
Home News

Trump Organization found guilty of tax fraud scheme

December 7, 2022
in News
A A
Trump Organization found guilty of tax fraud scheme

Donald Trump’s real estate company was convicted on Tuesday of carrying out a 15-year-long criminal scheme to defraud tax authorities, adding to the legal woes facing the former U.S. president as he campaigns for the office again in 2024.

The Trump Organization – which operates hotels, golf courses, and another real estate around the world – was found guilty of paying personal expenses for top executives including former chief financial officer Allen Weisselberg, and issuing bonus checks to them as if they were independent contractors.

The company faces up to $1.6 million in fines after being convicted on all charges, including scheming to defraud tax authorities, conspiracy and falsifying business records. Trump was not charged in the case.

Justice Juan Merchan, who presided over the trial in state court in New York, set a sentencing date for Jan. 13.

While the fine is not expected to be material for a company of the Trump Organization’s size, the conviction could complicate its ability to do business.

Weisselberg, 75, testified as the government’s star witness as part of a plea deal that calls for a sentence of five months in jail.

Manhattan District Attorney Alvin Bragg, whose office prosecuted the case, called the verdict “very just.”

“The former president’s companies now stand convicted of crimes,” Bragg said in the New York courthouse after the verdict, speaking of the Trump Corporation and Trump Payroll Corporation, the two units of the Trump Organization which were convicted.

Asked if he regretted not charging Trump in the case, Bragg did not respond.

He has said that the office’s investigation into Trump is continuing.

APPEAL

Alan Futerfas, a lawyer for the Trump Organization, said the company would appeal and that the criminal law governing corporate liability was vague.

“It was central to the case,” he told reporters after the verdict.

The jury deliberated for about 12 hours over two days.

The case centred on charges that the company paid personal expenses like free rent and car leases for executives including Weisselberg without reporting the income, and gave them bonuses as non-employee compensation from other Trump entities like the Mar-a-lago Club, without deducting taxes.

According to testimony during the four-week trial, Trump himself signed the bonus checks annually, paid private school tuition for Weisselberg’s grandchildren, authorized the lease for his luxury Manhattan apartment and approved a salary deduction for another executive.

“The whole narrative that Donald Trump was blissfully ignorant is just not real, prosecutor Joshua Steinglass told jurors during his closing argument on Friday.

He said the “smorgasbord of benefits” was designed to keep top executives “happy and loyal.”

Republican Trump, who on Nov. 15 announced his third campaign for the presidency, said in a statement he was “disappointed” by the verdict but called the case a “Manhattan witch hunt.” Both Bragg and his predecessor who brought the charges, Cyrus Vance, are Democrats.

SEPARATE LAWSUIT

The Trump Organization separately faces a fraud lawsuit brought by New York state Attorney General Letitia James.

Trump himself is being investigated by the U.S. Department of Justice over his handling of sensitive government documents after he left office in January 2021 and attempts to overturn the November 2020 election, which he lost to Democrat Joe Biden.

Lawyers for the Trump Organization argued that Weisselberg carried out the scheme to benefit himself, not the company. They tried to paint him as a rogue employee. Weisselberg is currently on paid leave and testified that he hopes to get another $500,000 bonus in January

Trump wrote on his Truth Social platform on Nov. 19. that his family got “no economic gain from the acts done by the executive.”

Weisselberg, who pleaded guilty in August to concealing $1.76 million in income from tax authorities, testified that although Trump signed checks involved, he did not conspire with him.

He said that the company saved money by paying for his rent, utilities, Mercedes-Benz car leases for him and his wife and other personal expenses rather than raising his salary, because a wage hike would have had to account for taxes.

He said Trump’s two sons – who took over the company’s operations in 2017 – gave him a raise after they knew about his tax dodge scheme.

By then, Trump was president, and the company was preparing for greater scrutiny.

“We were going through an entire cleanup process of the company to make sure that since Trump is now president everything was being done properly,” Weisselberg testified

( Source : Reuters)

Share50Tweet32SendShare13
Previous Post

Two North Korea Teens, 16 And 17, Executed For Watching K-Drama: Report

Next Post

Sri Lanka removes Covid-19 vaccination requirement for entry.

MORE NEWS

As previously stated, the HRC completed the task! The secretary-chairman of the board-chairman of the petroleum was sued in the Supreme Court for cutting lights!
News

As previously stated, the HRC completed the task! The secretary-chairman of the board-chairman of the petroleum was sued in the Supreme Court for cutting lights!

January 30, 2023
Kabir Hashim has been invited to speak at a UN summit! Only representative invited from the South Asia!
News

Kabir Hashim has been invited to speak at a UN summit! Only representative invited from the South Asia!

January 30, 2023
Can president prorogue parliament? Who is threatening the members of the NEC with death? What happens if the NEC suddenly expands? Why the 13th amendment now? Professor G.L. Peiris-VIDEO
News

Can president prorogue parliament? Who is threatening the members of the NEC with death? What happens if the NEC suddenly expands? Why the 13th amendment now? Professor G.L. Peiris-VIDEO

January 30, 2023
12,000 signatures on a petition for Mudali’s release have been delivered to the Attorney General’s Office! VIDEO
News

12,000 signatures on a petition for Mudali’s release have been delivered to the Attorney General’s Office! VIDEO

January 30, 2023
Everyone wanted to know where! Notices have also been posted! The commission sent the election gazette to the press today!
News

Everyone wanted to know where! Notices have also been posted! The commission sent the election gazette to the press today!

January 30, 2023
Call for applications to the NEC is anti-political!  constitutional violation! We reconsider continuing in the Legislative Assembly! Sajith receives blessings with Mujibur, Colombo Mayoral candidate, at Gangarama-Grand Mosque-Kochchikade Church-Mayura Temple.VIDEO
News

Call for applications to the NEC is anti-political! constitutional violation! We reconsider continuing in the Legislative Assembly! Sajith receives blessings with Mujibur, Colombo Mayoral candidate, at Gangarama-Grand Mosque-Kochchikade Church-Mayura Temple.VIDEO

January 30, 2023
Load More
Leave Comment

Free Newsletter

Register for our weekly epaper for latest news updates.

MORE NEWS

As previously stated, the HRC completed the task! The secretary-chairman of the board-chairman of the petroleum was sued in the Supreme Court for cutting lights!
News

As previously stated, the HRC completed the task! The secretary-chairman of the board-chairman of the petroleum was sued in the Supreme Court for cutting lights!

January 30, 2023

The Sri Lanka Human Rights Commission has filed a petition before...

Read more
Kabir Hashim has been invited to speak at a UN summit! Only representative invited from the South Asia!

Kabir Hashim has been invited to speak at a UN summit! Only representative invited from the South Asia!

January 30, 2023
Can president prorogue parliament? Who is threatening the members of the NEC with death? What happens if the NEC suddenly expands? Why the 13th amendment now? Professor G.L. Peiris-VIDEO

Can president prorogue parliament? Who is threatening the members of the NEC with death? What happens if the NEC suddenly expands? Why the 13th amendment now? Professor G.L. Peiris-VIDEO

January 30, 2023
12,000 signatures on a petition for Mudali’s release have been delivered to the Attorney General’s Office! VIDEO

12,000 signatures on a petition for Mudali’s release have been delivered to the Attorney General’s Office! VIDEO

January 30, 2023
Everyone wanted to know where! Notices have also been posted! The commission sent the election gazette to the press today!

Everyone wanted to know where! Notices have also been posted! The commission sent the election gazette to the press today!

January 30, 2023
Call for applications to the NEC is anti-political!  constitutional violation! We reconsider continuing in the Legislative Assembly! Sajith receives blessings with Mujibur, Colombo Mayoral candidate, at Gangarama-Grand Mosque-Kochchikade Church-Mayura Temple.VIDEO

Call for applications to the NEC is anti-political! constitutional violation! We reconsider continuing in the Legislative Assembly! Sajith receives blessings with Mujibur, Colombo Mayoral candidate, at Gangarama-Grand Mosque-Kochchikade Church-Mayura Temple.VIDEO

January 30, 2023
Load More

One of the best Sri Lanka Latest News Website and Sinhala language newspaper with Sunday editions, published by Free Media Independent Networks Pvt Ltd.

Browse by Category

  • Business
  • Entertainment
  • Foreign
  • Gurudawa
  • My Serendib
  • News
  • Politics
  • Rajya Rahas
  • Sports
  • Uncategorized

Latest news

As previously stated, the HRC completed the task! The secretary-chairman of the board-chairman of the petroleum was sued in the Supreme Court for cutting lights!

As previously stated, the HRC completed the task! The secretary-chairman of the board-chairman of the petroleum was sued in the Supreme Court for cutting lights!

January 30, 2023
Kabir Hashim has been invited to speak at a UN summit! Only representative invited from the South Asia!

Kabir Hashim has been invited to speak at a UN summit! Only representative invited from the South Asia!

January 30, 2023

Free Newsletter

Register for our weekly epaper for latest news updates.

Copyright © 2019 -2021 Free Media Independent Networks Pvt Ltd, All Rights Reserved. Solution by hodama.net

No Result
View All Result
  • News
  • Politics
  • Sports
  • Foreign
  • Entertainment
  • Business
  • Political Analysis
  • Inside Politics
  • EPAPER
  • සිංහල

Copyright © 2019 -2021 Free Media Independent Networks Pvt Ltd, All Rights Reserved. Solution by hodama.net

Go to mobile version