Trump Organization Smacked With Maximum Fine In Tax Fraud Case
On Friday, the former President's namesake company, the Trump Organization, was sentenced to pay the state $1.6 million in fines. That is the maximum allowed by law.
Former Trump Organization chief financial Officer Allen Weisselberg pleaded guilty last summer to evading taxes on $1.7 million in compensation.
Via The Washington Post:
The Manhattan District Attorney's Office argued for the top possible financial punishment for the former President's private company, describing egregious and deliberate long-term conduct that both benefited former president Donald Trump's namesake company and the executives involved in the cheating.
"The sheer magnitude of this fraud merits the largest financial sanction authorized by law," Assistant District Attorney Joshua Steinglass argued at the company's sentencing.
Longtime Trump Organization finance chief Allen Weisselberg was the star witness against his company. He pleaded guilty in August to 15 felonies and agreed to testify in exchange for a significantly reduced sentence of five months in jail and five years probation which was imposed in court on Tuesday. He also paid the state more than $2 million in back taxes, fines, and interest.