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Two Corporate Entities at Trump Organization Found Guilty in Tax Evasion Trial

Two Corporate Entities at Trump Organization Found Guilty in Tax Evasion Trial

Main prosecutor witness Allen Weisselberg never once implicated former President Donald Trump or the Trump family: “It was my own personal greed that led to this.”

The Trump Corporation and the Trump Payroll Corp., two corporate entities under the Trump Organization umbrella, were found guilty on all 17 charges in a tax evasion trial in New York.

The company faces a $1.6 million fine.

The Manhattan District Attorney’s office alleged that the organization was “complicit in a scheme by top executives to avoid paying personal income taxes on job perks such as rent-free apartments and luxury cars.”

The prosecution relied on Allen Weisselberg, the organization’s former CFO. He “pleaded guilty to charges that he manipulated the company’s books and his own compensation package to illegally reduce his taxes.”

Weisselberg never once implicated former President Donald Trump or the Trump family: “It was my own personal greed that led to this.”

From The New York Times:

A company, of course, cannot be imprisoned, and the two convicted Trump corporations are not publicly traded. As such, there will be no run on the company if the jury convicts. It has no regulators to punish it or public investors to flee from it.‌ ‌

The two corporations — the Trump Corporation and ‌the ‌Trump Payroll Corp. — are‌ also‌ not central to Mr. Trump’s moneymaking enterprise.

They largely perform back-office functions, employing and paying top executives, so they do not hold any loans, liquor licenses‌ or other privileges that might slip away in the wake of the conviction.‌

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Comments

2smartforlibs | December 6, 2022 at 5:11 pm

What is the tax debt on millions from foreign entities the BUYdens and Clintons owe? Oh, that’s right the left has no rules.

I’d like to see the DA’s tax returns where he pays taxes on his perks

Close The Fed | December 6, 2022 at 5:26 pm

Unbelievable. But all too believable.

AntiPostmodernist | December 6, 2022 at 7:23 pm

Wow, if anyone’s tax returns were scrutinized as much as Trump- I’ll bet you can find something. It’s time to check Biden’s- 10 for the big guy – did he pay taxes on that or the Clintons on their “foundation”?

    Well, you can be sure that they will now be demanding the tax returns of every other business owner in NYC, and subject them to the same scrutiny.

    When monkey fly out of my backside.

    What a totally bun free nothing burger. The guy was ripping off Trump too.

    I have been informed in no uncertain terms that the Clinton FOundation is totally aboveboard when I suggetsed they be scrutinized with 1/10th the effort put into the Trump organization. Quote: “rhinojake
    Contrary to your and your other PHONY and FRAUDULENT nicks as well as your obvious collective IGNORANCE and CLUELESSNESS,

    The Clinton Foundation is required by law to be subjected to

    1) Annual audits and financial statements prepared by an independent CPA, which are publicly available on its website, and

    2) Audits by the state of NY and the IRS, and

    3) Annual filings of IRS Forms 990, which are also publicly accessible on its website,and

    4) Careful vetting by well-known, impartial, and independent self-supporting organizations which review and publish their findings on 501(c)(3) organizations such as the Clinton Foundation

    All said, it’s obvious to everyone here you’re simply making up “stuff”, being the PHONY POSER that you’re known to be, without any real knowledge as to what you’re talking about

    All those 990s, filed on time, every year….

The Gentle Grizzly | December 6, 2022 at 7:28 pm

The tax laws are written in a manner where – if they want to grind you under their heel – they will find a way. The 12 year old baby sitter who sat enough to generate a 1099. The part time high school kid doing post-closing cleaning at a hot dog stand 3 days a week and filed a 1040EZ. There will be a way c

    The bear that stole picnic baskets in Jelly Stone Park.

    Exactly. The tax code, the regulatory structure of multiple agencies are all to some degree used to ensnare the unwary and complacent as well as the truly criminal. The big corporations have the edge because they have the economies of scale to have a compliance staff. The mid tier companies and small businesses usually can’t afford a dedicated in house compliance staff for all this.

    Oddly enough, the non cash contributions of the NYTimes etc. to various leftist candidates are never an issue.

    Many companies provide these kinds of perks and compensation. But they account for them properly, report them properly, and withhold tax on them properly. This has nothing to do with using the tax laws as a weapon.

So, … this was prosecuted by Manhattan DA, before a Manhattan Judge and NYC jury? Regardless of the evidence, was the result ever in doubt? This is what is called a stacked deck.

There is no reason for the public to have confidence in this outcome. The public should see the evidence.

    4fun in reply to Q. | December 6, 2022 at 10:17 pm

    From what little I’ve seen, the jury took almost no time to return the verdict. Hoping to see it appealed.

    I knew this trial was going on and agree with you that it was a slam dunk no matter what the evidence was. As a matter of fact, I believe that the prosecution could have presented no evidence and the results would have been the same.

    This goes double when the DOJ arrests Trump on bogus charges in the near future. They will try him in front of a Democrat Judge in D.C. with a D.C. jury. The prosecution will present something they call evidence like Trump denied the 2020 “Election” but basically nothing. The jury will find Trump guilty and the judge will sentence him to life in prison. It will be a pure Soviet Union style procedure.

I Pray every single day for President Trump and this country

But it’s gotten so depressing

The offense might have been due to personal greed (and corporate complicity), but the stonewall defense was an effort to keep Trump’s political skirts clean. 95% of criminal cases don’t go to trial, they’re resolved by a guilty plea. Most companies would have sent in a negotiator to work out a fine and a consent agreement. 95% of criminal cases that do go to trial result in conviction, which is a lot harder to sweep under the rug than a plea deal.

    Any bets on a plea deal *not* being offered in this case? Or at least if there was a deal offered, it came with “And claim falsely that Trump personally authorized this”

Watching GB News where an expert talked about Trump’s troubles and brought up case..NOT saying Trump was not involved. Muck racking has its proponents….but selectively. The Left is positioning this well….. defend Trump against false charges and get negative press or abandon Trump and lose the base forever.