The Trump Organization was found guilty Tuesday of “criminal tax fraud” that could impose a fine of $1.6 million on the former President’s business operations.
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 come weeks after the company’s owner, 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 verdicts also could harm the company’s ability to obtain loans.