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The Trump Organization and its chief financial officer, Allen Weisselberg, were charged with having schemed since 2005 to defraud tax authorities through the awarding of “off the books” benefits to company executives.
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Weisselberg was charged with concealing US$1.76 million of income including rent for a Manhattan apartment, lease payments for two Mercedes Benz vehicles and tuition for family members, with Trump signing cheques for the tuition himself.
“It was orchestrated by the most senior executives who were financially benefitting themselves and the company, by getting secret pay raises at the expense of state and federal taxpayers,” prosecutor Carey Dunne said at the arraignment.
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INDICTED It’s official: The Trump Organization has been charged with criminal conspiracy, grand larceny, falsifying business records and tax fraud, and its longtime CFO, Allen Weisselberg, was escorted into a Manhattan courtroom this afternoon, where he pleaded not guilty to a variety of financial crimes that carry significant prison sentences.
Trump s company, CFO charged with tax fraud, plead not guilty
Reuters | Jul 01, 2021 04:30 PM EDT
Trump Organization chief financial officer Allen Weisselberg exits after his arraignment hearing in New York State Supreme Court in the Manhattan borough of New York City, New York, U.S. (Photo : REUTERS/Brendan McDermid)
Donald Trump s namesake company and longtime financial chief pleaded not guilty on Thursday to criminal charges in a sweeping indictment from Manhattan s district attorney as he probes the former U.S. president and his business practices.
The Trump Organization and its chief financial officer Allen Weisselberg were charged with having schemed since 2005 to defraud tax authorities through the awarding of off the books benefits to company executives.
TORONTO Following the indictment of the Trump Organization and its Chief Financial Officer Allen Weisselberg on tax fraud charges, one expert says the case lays the groundwork for potential future charges against the company and puts pressure on former U.S. president Donald Trump. Trump is not charged with any wrongdoing in the case, but remains a focus of the ongoing investigation.
Prosecutors allege the 15-year tax fraud scheme was orchestrated by the most senior executives at the Trump Organization with some employees collecting more than US$1.7 million in off-the-books compensation, including apartment rent, car payments and school tuition.