Trump group fined $1.6m for tax fraud

Family business hid compensation it paid to top executives in 2005-21 period

While corporations can’t serve jail time ... this serves as a reminder to corporations and executives that you cannot defraud tax authorities and get away with it.”

ANew York judge yesterday fined Donald Trump’s family business the maximum penalty available of $1.6 million for committing tax fraud.

The Trump Corporation and Trump Payroll Corp, entities of the Trump Organization, were found guilty last month of running a yearslong scheme to defraud and evade taxes through falsifying business records.

They were convicted all 17 counts following a trial, marking the first time the companies had ever been convicted of crimes. Trump himself was not charged.

“While corporations can’t serve jail time, this consequential conviction and sentencing serves as a reminder to corporations and executives that you cannot defraud tax authorities and get away with it,” said Manhattan District Attorney Alvin Bragg, who prosecuted the case.

The Trump Organization, run by Trump’s two adult sons, Donald Jr and Eric, hid compensation it paid to top executives between 2005 and 2021.

CEO jailed and fined

Longtime CFO Allen Weisselberg was sentenced to five months in prison on Tuesday, and agreed to pay $2 million in fines, for his role in the scam.

He pleaded guilty to scheming with the company to receive undeclared benefits such as a rent-free apartment in a posh neighborhood, luxury cars for him and his wife and his grandchildren’s fees at an expensive private school.

Alvin Bragg | Manhattan District Attorney, who prosecuted the case