The entrance to Trump Tower on 5th Avenue is pictured in the Manhattan borough of New York City, May 19, 2021.
Shannon Stapleton | Reuters
Two subsidiaries of the Trump Organization were convicted Tuesday of multiple crimes, including tax fraud, falsifying business records and conspiracy by a jury in New York City.
The convictions on all 17 counts come weeks after the company’s owner, Republican former President Donald Trump, declared his candidacy for the White House in the 2024 election.
Trump was not personally a defendant in the case, which related to a scheme by his company to avoid taxes on compensation in the form of perks to its then-chief financial officer Allen Weisselberg and other executives since 2005.
But a prosecutor in closing arguments said that Trump “knew exactly what was going on.”
A jury in Manhattan Supreme Court began deliberations in the case this week after a trial that featured testimony by Weisselberg, who earlier pleaded guilty.
The Trump Organization faces fines of up to $1.6 million at sentencing in the case. The guilty verdicts also could harm the company’s ability to obtain loans.
One of the subsidiaries charged in the case, the Trump Corporation, was convicted of nine counts. The other defendant, the Trump Payroll Corporation, was convicted of the remaining seven counts.
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