Trump Organization chief charged with tax evasion, company suspected of fraud and book tampering | News

New York prosecutors said Thursday that chief financial officer Allen Weisselberg, 73, of the Trump Organization, the family business of former President Donald Trump and his children, is accused of evading $900,000 in taxes on $1.7 million in income. . The Trump Organization has also been accused of, among other things, tax fraud and tampering with its books. Weiselberg and the company pleaded “acquittal”.




It is the first criminal case looming regarding the former president and his way of doing business.

of books

The Trump Organization’s chief financial officer turned himself in to the New York prosecutor’s office early Thursday morning after it emerged that he would be charged with tax offenses.

During the day, prosecutors revealed exactly what they accuse the CEO and company of: defrauding federal, state, and local tax authorities since 2005 by granting “off-the-books” benefits to company executives, thus engaging in tax evasion. “It’s about 15 years of tax fraud with payments being made,” Prosecutor Carrie Dunn summed up during the trial in court. There are at least fifteen indictments. Former President Donald Trump has long denied that there were financial abuses within his company.

‘Not guilty’

Allen Weisselberg, now 73, is seen as the most important person in the Trump Organization who does not belong to the Trump family. He has worked for Trump since the 1980s, who made his name as a real estate mogul prior to his political career.

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The CEO is said to have hidden nearly $1 million in revenue from tax authorities, including rent for an apartment in Manhattan, tuition and car rental payments. Senior figures in the Trump family and children’s company are said to have arranged the black payments. They would also have benefited from this by secretly increasing wages.

Allen Wesselberg in 2017 with Donald Trump and his son Donald Trump Jr. Weiselberg has worked for Trump for 48 years. © AFP

bribe

Prosecutors once launched their investigation into the Trump Organization’s possible involvement in the payment of silence money to two women who claimed they had affairs with Trump. This happened in the run-up to the 2016 election. The investigation then expanded to include the Trump Organization’s ties to a variety of companies.

The company and its chief executive said Thursday they were not guilty. Weisselberg was released after the charges were released, but had to surrender his passport.

“witch hunting”

Trump, who is not known to be on trial himself, complained earlier this week about the impending criminal case against his company. “It’s all bullshit,” he said from Texas, Where he visited the border with Mexico. “Far-left prosecutors in New York are after me.” On Thursday, Trump spoke in an initial response about a “witch hunt by Radical Left Democrats.” He added that the New York court was “more divided than ever.”

Trump on a visit to the US border with Mexico in Weslaco, Texas.

Trump on a visit to the US border with Mexico in Weslaco, Texas. © Reuters

The Trump Organization also said in a statement that Democratic attorney general Cyrus Vance is only seeking to harm the former president. The company stated that Weisselberg is being used as a “pawn” by prosecutors who want to antagonize the former president.

The Trump Organization’s attorney said in a response Thursday that he does not assume the company will suffer significant harm from the allegations. He said: “If this company had a different name, these charges would not have been brought.” The Trump Organization has hotels, golf courses, and vacation rentals around the world.

Read also: Is Trump targeting the White House from his cell? The Democratic attorney general decides whether the former president will face trial (+)

The attorney general spoke of tax fraud through payments that were withheld in the books.  It's about benefits like car rentals, housing, and private education that count as income, but are not taxed.

The attorney general spoke of tax fraud through payments that were withheld in the books. It’s about benefits like car rentals, housing, and private education that count as income, but are not taxed. © Reuters

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