Trump Organization found guilty of tax fraud, financial crimes
![Trump Tower](https://cdn.mos.cms.futurecdn.net/5okF3tAHDchGukNW34yC73-415-80.jpg)
Former President Donald Trump's eponymous business was found guilty on multiple counts of tax fraud and other financial crimes on Tuesday, jurors in state Supreme Court in Manhattan announced. After more than a day of deliberations, the court declared that both the Trump Organization and the Trump Payroll Corporation broke the law as part of an expansive scheme to shelter top executives from income taxes, convicting the companies on all 17 counts.
Neither the former president nor his family were indicted as part of the case and have all denied any wrongdoing, although prosecutors have alleged Trump "knew exactly what was going on" at his namesake company.
In a statement released shortly after the verdicts were announced, the Trump Organization blamed former CFO Allen Weisselberg, who pleaded guilty to tax fraud charges this summer, claiming "Mr. Weisselberg testified under oath that he 'betrayed' the trust the company had placed in him. The notion that a company could be held responsible for an employee's actions, to benefit themselves, on their own personal tax returns is simply preposterous."
Subscribe to The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.
![https://cdn.mos.cms.futurecdn.net/flexiimages/jacafc5zvs1692883516.jpg](https://cdn.mos.cms.futurecdn.net/flexiimages/jacafc5zvs1692883516-320-80.jpg)
Sign up for The Week's Free Newsletters
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
While the Trump Organization is now required to pay just $1.62 million in fines, The New York Times reports that the reputational damage to the former president's business could limit its ability to find potential lenders, while also giving the Trump Organization diminished leverage to negotiate favorable deals.
"The former president's companies now stand convicted of crimes," Manhattan District Attorney Alvan Bragg announced following the verdict. "That is consequential. It underscores that in Manhattan we have one standard of justice for all."
Create an account with the same email registered to your subscription to unlock access.
Sign up for Today's Best Articles in your inbox
A free daily email with the biggest news stories of the day – and the best features from TheWeek.com
Rafi Schwartz has worked as a politics writer at The Week since 2022, where he covers elections, Congress and the White House. He was previously a contributing writer with Mic focusing largely on politics, a senior writer with Splinter News, a staff writer for Fusion's news lab, and the managing editor of Heeb Magazine, a Jewish life and culture publication. Rafi's work has appeared in Rolling Stone, GOOD and The Forward, among others.
-
Big Tech's answer for AI-driven job loss: universal basic income
In The Spotlight A new study reveals the strengths and limitations
By Joel Mathis, The Week US Published
-
'I will not be silent' on Gaza, says Kamala Harris
Speed Read In a meeting with Israeli Prime Minister Benjamin Netanyahu, Harris supported Israel's right to defend itself while expressing a desire to end Palestinian suffering
By Arion McNicoll, The Week UK Published
-
'How long can TikTok dominate as a social network?'
Instant Opinion Opinion, comment and editorials of the day
By Justin Klawans, The Week US Published
-
Netanyahu makes controversial address
Speed Reads Israeli Prime Minister Benjamin Netanyahu's speech to Congress denounced Gaza war protestors
By Rafi Schwartz, The Week US Published
-
Why is China stockpiling resources?
The Explainer The superpower has been amassing huge reserves of commodities at great cost despite its economic downturn
By Richard Windsor, The Week UK Published
-
The GOP is Donald Trump Jr.'s party now
In The Spotlight The former president's gun-loving, live-streaming adult son has emerged as more than just his father's namesake — he's become a Republican powerhouse of his own
By Rafi Schwartz, The Week US Published
-
For God and country: is religion in politics making a comeback?
Talking Point There are many MPs of faith in the new Labour government despite it being the most openly secular House of Commons in history
By Chas Newkey-Burden, The Week UK Published
-
The attack on Donald Trump
Opinion We've seen this kind of shooter before
By Susan Caskie Published
-
74 things Donald Trump has said about women
Feature The former president has a long history of controversial remarks about the opposite sex
By Rafi Schwartz, The Week US Published
-
DHS opens review of Trump assassination attempt
Speed Read An independent panel will investigate the Secret Service's handling of the shooting
By Peter Weber, The Week US Published
-
Can Kamala Harris beat Trump?
Today's Big Question Some senior Democrats are unsure the vice-president can win in November even as party closes ranks behind her
By The Week UK Published