The Trump Organization was sentenced on Friday in New York to pay a fine of up to $1.6 million for tax and financial fraud, the Manhattan prosecutor’s office announced in a statement.
The entity was tried for tax evasion and falsification of accounting statements, made with the aim of hiding from the tax services the financial compensation of some of its executives.
“Today the companies of former President Trump were fined the maximum penalties allowed by law after landmark convictions totaling 17 felonies,” prosecutor Alvin Bragg said in a statement.
It is the first criminal case for the former president’s family corporation (2017-2021), whose assets include golf clubs, luxury hotels and real estate.
Two of his companies, Trump Corporation and Trump Payroll Corporation, were accused of having granted economic or in-kind benefits to senior executives, hiding them from the tax authorities to avoid paying taxes between 2005 and 2018.
Among them is the company’s former financial director, Allen Weisselberg, who pleaded guilty to 15 charges and was sentenced last Tuesday for the same case to five months in prison and a fine of more than two million dollars.
Weisselberg, 75, was transferred to Rikers Island Prison to serve his sentence.
