January 6th News
Trump Companies Convicted of 17 Counts of Tax Fraud
Updated: Mar 20
A Manhattan jury has found two Trump companies guilty on 17 counts of criminal tax fraud and falsifying business records connected to a 15-year scheme to defraud tax authorities by failing to report and pay taxes on compensation for top executives. The maximum penalty is $1.6 million.
Donald Trump and his family were not charged in this case, but the former president was mentioned repeatedly during the trial by prosecutors about his connection to the benefits doled out to his executives, including company-funded apartments, car leases and personal expenses.
Sentencing will be in mid-January. Though the company is not at risk of being dismantled for its crimes, a felony conviction could impact its ability to do business in the future.
The guilty verdict comes as Trump is under scrutiny by federal and state prosecutors for his handling of classified documents and the effort to overturn the 2020 election results.