The jury found the conglomerate guilty of a 15-year-long scheme by top executives to dodge paying personal income taxes on various job perks, including rent-free apartments and luxury cars, Reuters reported.
At the sentencing hearing in January, the company could be fined up to $1.6 million and will bear the stain of the conviction on its reputation in future business dealings.
“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,” said Manhattan District Attorney Alvin Bragg.
The Trump Organization includes nearly 500 business entities owned by Trump.
The suit is one of several investigations of Trump and his finances that date to the time of his presidency. Unlike when he was chief executive, Trump no longer enjoys the immunity of the nation's top office, opening him up to a slew of lawsuits.
RHM/PR