The Trump Organization was found guilty of tax fraud on Tuesday, after more than a day of jury deliberations, the District Attorney's Office confirmed. File Photo by Bonnie Cash/UPI | License Photo
Dec. 6 (UPI) -- The Trump Organization was found guilty of tax fraud on Tuesday, after more than a day of jury deliberations, prosecutors confirmed.
The real estate business of former president Donald Trump could face a fine of up to $1.6 million after being convicted of all charges, including tax fraud, falsifying business records and conspiracy among others.
The trial started in October, following a three-year investigation into whether top executives at the Trump Organization engaged in tax fraud. Prosecutors rested their case in mid-November.
The company is due to be sentenced on June 13.
The case against the Trump Corporation and its arm's length payroll company, The Trump Payroll Corp., did not name the former president as a defendant, nor was he called as a witness during the four-week trial.
"The former president's companies now stand convicted of crimes. That is consequential. It underscores that in Manhattan we have one standard of justice for all," Manhattan District Attorney Alvin Bragg said on Twitter, following the verdict.
Prosecutors contend the organization engaged in a 13-year scheme to defraud and conspire, committing criminal tax fraud and falsifying business records.
"These all-count convictions mark the first-ever criminal convictions of former President Trump's companies," Bragg said in a statement.
"For 13 years the Trump Corporation and the Trump Payroll Corporation got away with a scheme that awarded high-level executives with lavish perks and compensation while intentionally concealing the benefits from the taxing authorities to avoid paying taxes. Today's verdict holds these Trump companies accountable for their long-running criminal scheme."
One of the prosecution's lead witnesses, former chief financial officer for the Trump Organization Allen Weisselberg who pleaded guilty to 15 charges in August, testified that neither Trump nor his family were involved in the tax scheme.
Weisselberg, 75, said sons Donald Trump Jr. and Eric Trump found out in 2017 that he had been getting off-the-book perks and bonuses paid as an "independent contractor." He also testified that he received a raise to make up for the apartment rentals, leased luxury cars and private school tuition that he was no longer receiving.
"It was my own personal greed that led to this case," Weisselberg testified in November.
He is expected to serve prison time as part of his plea agreement.