Court orders Trump Organisation to pay $1.6 million as fine for tax fraud<\/p>\n
Donald Trump’s company has been fined $1.6 million as punishment for a scheme in which the former president’s top executives dodged personal income taxes on lavish job perks a symbolic, hardly crippling blow for an enterprise boasting billions of dollars in assets.<\/p>\n
A fine was the only penalty a judge could impose on the Trump Organization for its conviction last month for 17 tax crimes, including conspiracy and falsifying business records.<\/p>\n
The amount imposed by Judge Juan Manuel Merchan was the maximum allowed by law, an amount equal to double the taxes a small group of executives avoided on benefits including rent-free apartments in Trump buildings, luxury cars and private school tuition.
\nThe judgment was given Friday 13th January, 2023.<\/p>\n
Trump himself was not on trial and denied any knowledge of his executives evading taxes illegally.<\/p>\n
While the fine less than the cost of a Trump Tower apartment isn’t big enough to impact the company’s operations or future, the conviction is a black mark on the Republican’s reputation as a savvy businessman as he mounts a campaign to regain the White House.<\/p>\n
Neither the former president or his children, who helped run and promote the Trump Organisation, were in the courtroom for the sentencing hearing.<\/p>\n
Prosecutor Joshua Steinglass said the fine constitutes a fraction of the revenue of the Trump Organisation and that the scheme was far-reaching and brazen.<\/p>\n","protected":false},"excerpt":{"rendered":"
Court orders Trump Organisation to pay $1.6 million as fine for tax fraud Donald Trump’s company has been fined $1.6 million as punishment for a scheme in which the former president’s top executives dodged personal income taxes on lavish job perks a symbolic, hardly crippling blow for an enterprise boasting billions of dollars in assets. […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-141","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"_links":{"self":[{"href":"https:\/\/peoplesforumonline.com.ng\/about\/wp-json\/wp\/v2\/posts\/141","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/peoplesforumonline.com.ng\/about\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/peoplesforumonline.com.ng\/about\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/peoplesforumonline.com.ng\/about\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/peoplesforumonline.com.ng\/about\/wp-json\/wp\/v2\/comments?post=141"}],"version-history":[{"count":1,"href":"https:\/\/peoplesforumonline.com.ng\/about\/wp-json\/wp\/v2\/posts\/141\/revisions"}],"predecessor-version":[{"id":142,"href":"https:\/\/peoplesforumonline.com.ng\/about\/wp-json\/wp\/v2\/posts\/141\/revisions\/142"}],"wp:attachment":[{"href":"https:\/\/peoplesforumonline.com.ng\/about\/wp-json\/wp\/v2\/media?parent=141"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/peoplesforumonline.com.ng\/about\/wp-json\/wp\/v2\/categories?post=141"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/peoplesforumonline.com.ng\/about\/wp-json\/wp\/v2\/tags?post=141"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}