Donald Trump’s real estate firm has been found guilty of a 15-year criminal scheme to defraud tax authorities.
The plan implemented by the Trump Organization includes avoiding personal income taxes on perks like rent-free apartments and luxury cars.
“The smorgasbord of benefits was designed to keep its top management happy and loyal,” said prosecutor Joshua Steinglass.
Jurors were in closing arguments on Friday.
The company, which operates hotels, golf courses and other real estate around the world, pleaded not guilty.
The former U.S. president has not been personally charged in the case.
The Trump Organization has argued that Chief Financial Officer Allen Weisselberg, 75, implemented the plan to benefit himself.
He is on paid leave and testified that he received more than $1 million in salary and bonuses this year.
The company will be sentenced on January 13. Alan Furtfass, a lawyer for the Trump Organization, told reporters the company will appeal.
While the company now faces a fine, it is considered unlikely to cause serious damage to a company of its size. The group consists of approximately 500 business entities.
However, this belief may make lenders and partners think twice.
The Trump Organization also faces a fraud lawsuit brought by New York Attorney General Letitia James.
donald trump himself is Investigated by the U.S. Department of Justice About his handling of sensitive government documents after leaving office in January 2021 — and his attempt to overturn the November 2020 election in which he lost to Joe Biden.