Trump’s firm may face charges
Manhattan prosecutors are considering filing criminal charges soon against former US president Donald Trump’s company, stemming from a long-running investigation into the former president’s business dealings.
The New York Times, citing sources familiar with the matter, reported that charges could be filed against the Trump Organisation as early as this week, related to fringe benefits the company gave to top executives, such as use of apartments, cars and school tuition.
Trump Organisation lawyer Ron Fischetti said he met virtually with prosecutors on Friday for about 11⁄2 hours hours to try to persuade them not to seek a criminal indictment against the company, but the charges would not be unexpected.
‘‘The charges are absolutely outrageous and unprecedented, if indeed the charges are filed. This is just to get back at Donald Trump,’’ he said. ‘‘We’re going to plead not guilty, and we’ll make a motion to dismiss.’’
Manhattan District Attorney’s Cyrus Vance’s office declined to comment.
No charges have been filed so far in the long-running investigation. Prosecutors have been scrutinising Trump’s tax records, subpoenaing documents and interviewing witnesses, including Trump insiders and company executives.
Law enforcement officials familiar with the matter said the investigation has reached a critical point. A grand jury was recently empanelled to weigh evidence, and New York Attorney-General Letitia James said she was assigning two of her lawyers to work with Vance on the criminal probe while she continued a civil investigation of Trump. In addition to fringe benefits, prosecutors have looked into whether the Trump Organisation lied about the value of real estate holdings to lower taxes or to obtain bank loans or insurance policies on favourable terms. They have also looked into the company’s role in paying hush money to two women who say Trump had affairs with them, accusations Trump has denied.
Some of the scrutiny has been focused on longtime Trump Organisation chief financial officer Allen Weisselberg. Vance’s investigation of Weisselberg stemmed in part from questions about his son’s use of a Trump apartment at little or no cost, cars leased for the family, and tuition payments made to a school attended by Weisselberg’s grandchildren.
There is nothing illegal about companies giving perks to valued employees, but in many circumstances they count as compensation subject to income tax.