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Then-President-elect Donald Trump, Eric Trump, left, Ivanka Trump, and Donald Trump Jr., listen during a press conference at Trump Tower in New York on January 11, 2017.
(Photo: Jabin Botsford/The Washington Post via Getty Images)
Trump Organization Ordered to Pay Max Penalty of $1.6M for 'Systemic, Egregious' Tax Fraud
"I want to be very clear—we don't think that is enough," said New York District Attorney Alvin Bragg.
Jan 13, 2023
A New York Supreme Court judge on Friday ordered the Trump Organization, former President Donald Trump's real estate empire to pay the maximum criminal penalty for charges including tax fraud.
The fine of $1.6 million is financially insignificant to the multibillion-dollar company, but New York District Attorney Alvin Bragg noted that the Trump Organization's felony conviction "was consequential."
It was "the first time ever for criminal conviction of former President Trump's companies, and indeed I would go so far as to say the first time ever for any former president certainly in my lifetime," Bragg told reporters in New York Friday.
"Our laws in this state need to change in order to capture this type of decade-plus systemic, egregious fraud."
He added that state lawmakers should pass stricter penalties for corporate fraud.
"I want to be very clear—we don't think that is enough," Bragg said. "Our laws in this state need to change in order to capture this type of decade-plus systemic, egregious fraud."
A jury in Manhattan found the Trump Organization guilty last month of 17 counts including conspiracy, criminal tax fraud, and falsifying business records.
The company's lawyers had requested a smaller financial penalty and had claimed Allen Weisselberg, an executive who pleaded guilty to numerous tax crimes and was sentenced to five months in prison earlier this week, was responsible for the company's fraudulent activity.
The Manhattan district attorney's office rejected that claim, with prosecutor Joshua Steinglass arguing that the Trump Organization carried out "a multi-dimensional scheme to defraud the tax authorities."
Bragg suggested Friday that more charges, potentially against the former Republican president, could follow.
The sentences handed down this week close "this important chapter of our ongoing investigation into the former president and his businesses," said Bragg. "We now move on to the next chapter."
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This country and this world are at a monumental crossroads. US voters have an opportunity to beat back the forces of fascism and confront the billionaires who are rigging the economy, our media system, and our democracy, making it increasingly impossible for ordinary people to get by. We’re not just talking about the election. We’re talking about what must be done once these fascist elements are vanquished from power. We need a bolder set of solutions than what either major party has so far been willing to offer and a working-class movement ready to fight like hell for it. Trump didn't emerge from nowhere. The conditions that fueled MAGA authoritarianism were created by decades of radical neoliberal economic policies and a corrupt political system dominated by corporate interests. They slashed taxes on the super-rich, promising that the benefits would trickle down. They said giveaways to the corporate titans would make life more affordable for the rest of us. It was all bullshit. And when a bitter, betrayed populace searches for someone to blame, right-wing demagogues have little trouble finding scapegoats. People know when they're being lied to, but you won't hear any of this from the corporate media. Only independent journalism—powered and funded by people who believe in building a better world—can deliver truly trustworthy daily news. If you share our vision, please contribute whatever you can to sustain our work. |
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A New York Supreme Court judge on Friday ordered the Trump Organization, former President Donald Trump's real estate empire to pay the maximum criminal penalty for charges including tax fraud.
The fine of $1.6 million is financially insignificant to the multibillion-dollar company, but New York District Attorney Alvin Bragg noted that the Trump Organization's felony conviction "was consequential."
It was "the first time ever for criminal conviction of former President Trump's companies, and indeed I would go so far as to say the first time ever for any former president certainly in my lifetime," Bragg told reporters in New York Friday.
"Our laws in this state need to change in order to capture this type of decade-plus systemic, egregious fraud."
He added that state lawmakers should pass stricter penalties for corporate fraud.
"I want to be very clear—we don't think that is enough," Bragg said. "Our laws in this state need to change in order to capture this type of decade-plus systemic, egregious fraud."
A jury in Manhattan found the Trump Organization guilty last month of 17 counts including conspiracy, criminal tax fraud, and falsifying business records.
The company's lawyers had requested a smaller financial penalty and had claimed Allen Weisselberg, an executive who pleaded guilty to numerous tax crimes and was sentenced to five months in prison earlier this week, was responsible for the company's fraudulent activity.
The Manhattan district attorney's office rejected that claim, with prosecutor Joshua Steinglass arguing that the Trump Organization carried out "a multi-dimensional scheme to defraud the tax authorities."
Bragg suggested Friday that more charges, potentially against the former Republican president, could follow.
The sentences handed down this week close "this important chapter of our ongoing investigation into the former president and his businesses," said Bragg. "We now move on to the next chapter."
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A New York Supreme Court judge on Friday ordered the Trump Organization, former President Donald Trump's real estate empire to pay the maximum criminal penalty for charges including tax fraud.
The fine of $1.6 million is financially insignificant to the multibillion-dollar company, but New York District Attorney Alvin Bragg noted that the Trump Organization's felony conviction "was consequential."
It was "the first time ever for criminal conviction of former President Trump's companies, and indeed I would go so far as to say the first time ever for any former president certainly in my lifetime," Bragg told reporters in New York Friday.
"Our laws in this state need to change in order to capture this type of decade-plus systemic, egregious fraud."
He added that state lawmakers should pass stricter penalties for corporate fraud.
"I want to be very clear—we don't think that is enough," Bragg said. "Our laws in this state need to change in order to capture this type of decade-plus systemic, egregious fraud."
A jury in Manhattan found the Trump Organization guilty last month of 17 counts including conspiracy, criminal tax fraud, and falsifying business records.
The company's lawyers had requested a smaller financial penalty and had claimed Allen Weisselberg, an executive who pleaded guilty to numerous tax crimes and was sentenced to five months in prison earlier this week, was responsible for the company's fraudulent activity.
The Manhattan district attorney's office rejected that claim, with prosecutor Joshua Steinglass arguing that the Trump Organization carried out "a multi-dimensional scheme to defraud the tax authorities."
Bragg suggested Friday that more charges, potentially against the former Republican president, could follow.
The sentences handed down this week close "this important chapter of our ongoing investigation into the former president and his businesses," said Bragg. "We now move on to the next chapter."
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Related Articles Around the Web
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