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Donald Trump's company sentenced to pay $1.61 million penalty for tax fraud

Saturday, January 14, 2023

By Karen Freifeld and Jonathan Stempel

NEW YORK (Reuters) -A New York judge on Friday sentenced Donald Trump's namesake real estate company to pay a maximum $1.61 million criminal penalty after it was convicted of scheming to defraud tax authorities for 15 years.

Justice Juan Merchan of the Manhattan criminal court imposed the sentence after jurors found two Trump Organization affiliates guilty of 17 criminal charges last month.

Merchan on Tuesday sentenced Allen Weisselberg, who worked for Trump's family for a half-century and was the company's former chief financial officer, to five months in jail after he testified as the prosecution's star witness.

Susan Necheles, one of the defense lawyers, said Trump's company plans to appeal. No one else was charged or faces jail time in the case.

Manhattan District Attorney Alvin Bragg's office, which brought the case, is still conducting a criminal probe into Trump's business practices.

"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," Bragg said in a statement.

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04-10-2023 06:44:55 (UTC+7)

EUR/USD

1.0469

+0.0004 (+0.04%)

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EUR/USD

1.0469

+0.0004 (+0.04%)

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↑ Buy

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Buy (12)

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Buy (7)

Sell (1)

GBP/USD

1.2079

+0.0004 (+0.03%)

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USD/JPY

149.12

+0.10 (+0.07%)

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Buy (9)

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AUD/USD

0.6309

+0.0008 (+0.12%)

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1.3708

0.0000 (0.00%)

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156.13

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0.9643

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4,095.45

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1,724.80

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 EUR/USD1.0469↑ Buy
 GBP/USD1.2079↑ Buy
 USD/JPY149.12↑ Buy
 AUD/USD0.6309↑ Buy
 USD/CAD1.3708Buy
 EUR/JPY156.13↑ Buy
 EUR/CHF0.9643↑ Buy
 Gold1,838.95↑ Sell
 Silver21.392Buy
 Copper3.6167↑ Buy
 Crude Oil WTI89.41Buy
 Brent Oil91.10↑ Buy
 Natural Gas2.944Buy
 US Coffee C148.80↑ Buy
 Euro Stoxx 504,095.45Neutral
 S&P 5004,229.45↑ Buy
 DAX15,085.21↑ Sell
 FTSE 1007,470.16↑ Sell
 Hang Seng17,276.00↑ Buy
 Small Cap 20001,724.80Neutral
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 Bayer43.88Buy
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 Adidas160.72↑ Buy
 Lufthansa7.247Buy
 Siemens AG133.10Neutral
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