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Donald Trump's real estate firm found guilty of tax fraud

Published 07/12/2022, 13:25
Updated 07/12/2022, 13:41
© Reuters.  Donald Trump's real estate firm found guilty of tax fraud
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Proactive Investors - Donald Trump's real estate company has been found guilty of running a criminal scheme to defraud tax authorities for 15 years.

The scheme operated by The Trump Organization included avoiding paying personal income taxes on perks such as rent-free apartments and luxury cars.

"The smorgasbord of benefits is designed to keep its top executives happy and loyal," prosecutor Joshua Steinglass told jurors during his closing argument on Friday.

The firm, which operates hotels, golf courses and other real estate around the world had pleaded not guilty.

The former US president was not personally charged in the case.

The Trump Organization had argued that chief financial officer Allen Weisselberg, 75, ran the scheme to benefit himself.

He is on paid leave and testified that he received more than $1mln in salary and bonus payments this year.

Read more on Proactive Investors UK

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