Donald Trump has received even more bad news this week, as his real estate company has just been found guilty of criminal tax fraud. Not the best timing for the former president, as the ruling comes just three weeks after announcing his plans for a third presidential run!
#BREAKING Jury finds Trump Organization guilty of tax fraud on all counts https://t.co/9gOjOYq1od
— ABC7 Eyewitness News (@ABC7) December 6, 2022
Trump’s Latest Court Blow
A Manhattan jury found the two entities of the Trump Organization – the Trump Corporation and Trump Payroll Corporation – guilty on all counts, with criminal tax fraud, conspiracy and falsifying business records among the charges. The company has been accused of paying the personal expenses of executives without declaring them as income, and the outcome was no doubt helped by the testimony of Alan Weisselberg, former CFO of the Trump Corporation.
Weisselberg testified as part of a plea deal and admitted to dodging almost $2M in taxes on company provided perks such as Manhattan apartments, cars and school fees for his grandchildren. Prosecutors believed that his actions benefitted the company and that as CFO Weisselberg acted on the company’s behalf, therefore the Trump Organization was culpable.
Manhattan District Attorney Alvin Bragg said outside the courtroom, “It underscores that in Manhattan we have one standard of justice for all.” That standard supports blue-pilled voters. #TrumpDerangementSyndromehttps://t.co/eDx4RCTl2Q
— New York Mises Caucus (@MisesNy) December 7, 2022
“In Manhattan, we have one standard of justice for all,” Manhattan District Attorney Alvin Bragg told reporters after the verdict was read. “This was a case about lying and cheating and false documents to the end of evading taxes for the individuals and the corporations. They’ve now been held accountable in a court of law.”
Fallout From The Court Decision
The ruling will result in felony convictions carrying fines up to $1.7M, however there may be more collateral damage coming for the 76-year-old twice-impeached former president if banks or business partners call off any deals they may have due to clauses or internal policies preventing them from doing business with felons. Not to mention what this could mean for his presidential campaign if donors also decide to pull out.
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Maybe not as important but certainly embarrassing are the financial details also revealed in the trial, showing that from 2009 to 2010 Trump reported losses totaling nearly $1B, as well as losses each year up to 2018. Not quite what the Art of the Deal author would want being public knowledge, especially as during this time he was praising his own business know-how on reality TV and while running for president.
Response From Trump And Plans To Fight Back
The former president has said that he is "disappointed with the verdict in Manhattan," calling the case "a continuation of the Greatest Political Witch Hunt in the History of our Country."
"New York City is a hard place to be 'Trump,' as businesses and people flee our once Great City!" he added. However, this may not be the last we hear on this case (does Donald Trump ever go down quietly?!) as a spokesperson for the Trump Organization stated: "Mr. Weisselberg testified under oath that he 'betrayed' the trust the company had placed in him and that he, at all times, acted 'solely' for his 'own personal gain' and out of his 'own personal greed'. The notion that a company could be held responsible for an employee's actions, to benefit themselves, on their own personal tax returns is simply preposterous."
An attorney for the Trump Organization, Susan Necheles, has announced that they will appeal the decision. "This case was all about Allen Weisselberg committing tax fraud on his personal tax returns. Every witness repeatedly testified that President Trump and the Trump family knew nothing about Allen Weisselberg's actions," she said.
"Why would a corporation whose owner knew nothing about Weisselberg's personal tax returns be criminally prosecuted for Allen Weisselberg's personal conduct, for which they had no visibility or oversight? This case was unprecedented and legally incorrect."
READ MORE: US Courts Just Ruled Against Donald Trump In Georgia Case—He Must Be Freaking Out!
Necheles had already told the jury during the trial: "The prosecution's case rests on one thing: trying to convince you, the jurors, that Mr. Weisselberg's actions were done on behalf of the company. They were not. They were done solely to benefit himself. And that is the critical issue in this case." However the simple fact that the company had benefitted from these actions may make it difficult to appeal, especially when coupled with evidence such as signed checks and memos by Trump himself in relation to the expenses, even though the former president has denied any wrongdoing.
Possibly the most damning evidence is that the company went through a cleaning process to remove all signs of any fraud as soon as Trump was elected president. "We were going through an entire cleanup process of the company to make sure that since Mr. Trump is now president that everything was being done properly," Weisselberg testified. It looks like an uphill battle to reverse this decision in court, but you know the Trump Organization won’t go down without a fight!
