Trump Organization fined $1.6 million for tax fraud

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Trump Organization fined $1.6 million for tax fraud
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A fine was the only penalty a judge could impose on the Trump Organization after its conviction last month for 17 tax crimes, including conspiracy and falsifying business records.

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Outside the courtroom, Manhattan District Attorney Alvin Bragg, a Democrat, said he wished the law had allowed for a more serious penalty.Article content The criminal case involved financial practices and pay arrangements that the company halted when Trump was elected president in 2016.Over his years as the company’s chief moneyman, Weisselberg received a rent-free apartment in a Trump-branded building in Manhattan with a view of the Hudson River. He and his wife drove Mercedes-Benz cars, leased by company. When his grandchildren went to an exclusive private school, Trump paid their tuition. A handful of other executives received similar perks.

At the trial, Trump Organization lawyers repeated the mantra, “Weisselberg did it for Weisselberg.” In its statement Friday, the company took a different tone.Article content “We all know that these corporations won’t go to jail, as Allen Weisselberg has,” Steinglass said. “The only way to deter such conduct is to make it as expensive as possible.”

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