The court imposed the maximum possible fine of $1.6 million for the years of fraud and tax evasion.
Donald Trump’s family business has been fined the maximum possible amount of $1.6 million for tax fraud. The corresponding decision was made by the New York court, reports on Friday, January 13, CNBC.
It was noted that last month the Trump Corporation and Trump Payroll Corp., part of the Trump Organization, were found guilty of using a multi-year scheme of fraud and tax evasion by falsifying business records.
After trial, they were convicted on all 17 counts, marking the first time the companies have been found guilty of crimes.
“The sentencing serves as a reminder to corporations and executives that you cannot cheat the tax authorities and get away with it,” said Manhattan District Attorney Alvin Bragg.
Trump’s company, currently run by two grown men, kept Donald Jr. and Eric, the compensation it paid to top executives between 2005 and 2021. Trump has denied all the allegations, which he called “a complete scam.”
Earlier, The New York Times, citing tax returns, reported that Trump had not paid federal income tax in ten years.
And in late November, the US Congress, after years of litigation, received Trump’s tax returns.
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Source: korrespondent
I am David Wyatt, a professional writer and journalist for Buna Times. I specialize in the world section of news coverage, where I bring to light stories and issues that affect us globally. As a graduate of Journalism, I have always had the passion to spread knowledge through writing.