A court found Trump’s organization, The Donald Trump Company, guilty of tax fraud on Tuesday. The family business of the former president of the United States is likely to be fined.
The Trump Organization owns hotels, golf courses, and other real estate, among other things. The company has been under investigation for years on suspicion that it did not properly report all expenses to the tax authorities. For example, the Trump Organization paid for the personal expenses of high-ranking employees without reporting them.
A jury in a New York court ruled on Tuesday that the company was indeed guilty of tax fraud. The Trump Organization itself has long denied any wrongdoing.
On January 13, the ramifications of the ruling on the Trump Organization will be announced. Perhaps it comes to a fine that could amount to more than $1 million (about 955,000 euros), he writes CNN. For such a large company, the fine probably wouldn’t have much of an impact. The same conviction is this: it can make lenders and business partners less willing to do business.
Trump himself has not been tried in this case. Another investigation into the Trump Organization is being led by State Attorney Letitia James. This investigation also covers financial fraud, but it focuses more on Trump’s real estate value.
