Business

Trump Organization subsidiaries convicted in tax fraud case


The entrance to Trump Tower on Fifth 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 counts, including tax fraud, falsifying business records and conspiracy by a New York City grand jury.

The verdict comes weeks after the company’s owner, former President Donald Trump, announced his candidacy for the White House in the 2024 election.

Trump personally is not a defendant in the lawsuit, which concerns his company’s plot to evade taxes on compensation paid to then-CFO Allen Weisselberg and other executives since 2008. 2005.

A jury in Manhattan Supreme Court began discussing the case this week following a trial that featured testimony from Weisselberg, who previously pleaded guilty.

The Trump Organization faces a fine of up to $1.6 million upon sentencing in the case.

This is breaking news. Please check back for updates.

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