Trump Organization found guilty on all counts of criminal tax fraud
By Kara Scannell and Lauren del Valle, CNN
Updated 8:52 AM EST, Wed December 7, 2022
CNN — A Manhattan jury has found two Trump Organization companies guilty on multiple charges of criminal tax fraud and falsifying business records connected to a 15-year scheme to defraud tax authorities by failing to report and pay taxes on compensation for top executives. The Trump Corp. and Trump Payroll Corp. were found guilty on all charges they faced.
Donald Trump and his family were not charged in this case, but the former president was mentioned repeatedly during the trial by prosecutors about his connection to the benefits doled out to certain executives, including company-funded apartments, car leases and personal expenses.
The Trump Organization could face a maximum of $1.61 million in fines when sentenced in mid-January. The company is not at risk of being dismantled because there is no mechanism under New York law that would dissolve the company. However, a felony conviction could impact its ability to do business or obtain loans or contracts.
The guilty verdict comes as Trump is under scrutiny by federal and state prosecutors for his handling of classified documents, the effort to overturn the 2020 election results, and the accuracy of the Trump Organization’s business records and financial statements. He is also facing a $250 million civil lawsuit from the New York attorney general alleging he and his adult children were involved in a decade-long fraud. The attorney general is seeking to permanently bar them from serving as an officer or director of a company in New York state, among other penalties.
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https://www.cnn.com/2022/12/06/politics/trump-organization-fraud-trial-verdict/index.html
It adds into the various additional cases going on against his and his children's corporation, becoming part of the evidence trail... It starts cutting off their $$$ from that source.
That sentencing is due shortly, supposedly "mid month" (this month).
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