Home PoliticsAfrica News Trump’s associates and his Organization’s CFO indicted on tax fraud charges. The beginning of an end for Trump

Trump’s associates and his Organization’s CFO indicted on tax fraud charges. The beginning of an end for Trump

by AfroWorldNews

Donald Trump, twice impeached and one-term former president of the United States’s company and its longtime finance chief were charged Thursday in what prosecutors called a “sweeping and audacious” tax fraud scheme in which the executive collected more than $1.7 million in off-the-books compensation, including apartment rent, car payments, and school tuition.

Trump himself was not charged, but prosecutors noted that he signed some of the compensation checks at the center of the alleged scheme.

It is the first criminal case to come out of New York authorities’ two-year investigation into the former president’s business dealings.

According to the indictment, from 2005 through this year, the Trump Organization and Chief Financial Officer Allen Weisselberg cheated the state and city out of taxes by conspiring to pay senior executives off the books by way of lucrative fringe benefits and other means.

The most serious charge against Weisselberg, grand larceny, carries five to 15 years in prison. The tax fraud charges against the company are punishable by a fine of double the amount of unpaid taxes, or $250,000, whichever is larger.

The 73-year-old Weisselberg has intimate knowledge of the Trump Organization’s financial dealings from nearly five decades at the company. And the charges against him could give prosecutors the means to pressure him to cooperate with the investigation and tell them what he knows.

Both Weisselberg and lawyers for the Trump Organization pleaded not guilty. Weisselberg was ordered to surrender his passport and released without bail. leaving the courthouse without comment.

AFRO WORLD NEWS

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