Donald Trump’s company fined $1.6 million after top bosses evaded taxes | UK News

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Donald Trump’s company has been fined $1.6m (£1.3m) after senior managers at the company evaded taxes.

A judge can only fine the Trump Organization after it was found guilty last month of 17 tax offenses, including conspiracy and falsifying business records.

Trump himself has not been prosecuted and has denied any knowledge of his executives’ illegal tax evasion.

Neither the former president nor his sons, who helped run the company, attended the sentencing hearing.

The organization has been charged through its subsidiaries: Trump Corp, which was fined $810,000 (£662,976) and Trump Payroll Corp, which was fined $800,000 (£654,792).

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

He ordered the company to pay the full amount within 14 days, after it had requested 30 days.

Attorney General Joshua Stenglass said the fines made up “a small fraction of the revenue” of the Trump Organization and that the tax evasion scheme was “far-reaching and brazen.”

Image: Prosecution and defense attorneys. Pic: AP

Despite fines costing less than an apartment in Trump Tower, the conviction is a black mark on the Republican’s reputation as he prepares for the 2024 presidential campaign.

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

Along with the company, former Trump Organization chief financial officer Allen Weisselberg was sentenced on Tuesday to five months in prison after being found guilty of tax evasion on $1.7m (£1.4m) in job concessions, along with 15 other tax offenses he admitted. in August 2021.

Photo: Allen Weisselberg

During a four-week trial, prosecutors said Mr Trump himself signed additional checks, as well as the lease on the luxury Weisselberg apartment in Manhattan and private school tuition for the CFO’s grandchildren.

Weisselberg later denied Trump’s involvement in the fraud scheme.

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But Mr. Trump faces many other legal challenges as he looks to regain 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 others about the value of their many assets.

Last month, the Jan. 6 commission recommended criminal charges for the former president for his role in fomenting the violent riot at the US Capitol.

The FBI is also investigating Mr. Trump’s storage of classified documents, which is what the current US President, Joe Biden, is also facing, after appointing a special counsel to investigate the documents that were found in his home and former office in Washington.

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