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Manhattan DA charges Trump's company, CFO with tax fraud
Posted on 7/1/21 at 4:44 pm
Posted on 7/1/21 at 4:44 pm
ABC News
quote:
Manhattan District Attorney Cyrus Vance has charged former President Donald Trump's company, the Trump Organization, and his longtime CFO Allen Weisselberg with tax fraud, according to an indictment unsealed Thursday in New York.
"This was a 15-year-long tax fraud scheme," said Carey Dunn, general counsel for the Manhattan DA's office. "It was orchestrated by the most senior executives."
"During the operation of the scheme, the defendants arranged for Weisselberg to receive indirect employee compensation from the Trump Organization in the approximate amount of $1.76 million ... in ways that enabled the corporate defendants to avoid reporting it to the tax authorities," the indictment said.
The indictment said that, beginning in 2005, Weisselberg used the Trump corporation's bank account to pay the rent for his apartment, and he and others paid his utility bills using the Trump corporation's account. The indictment also accuses Weisselberg of concealing "indirect compensation" by using payments from the Trump Organization to cover nearly $360,000 in upscale private school payments for his family, and nearly $200,000 in luxury car leases.
"Weisselberg intentionally caused the indirect compensation payments to be omitted from his personal tax returns, despite knowing that those payments represented taxable income and were treated as compensation by the Trump Corporation in internal records," said the indictment.
"The case brought by the New York District Attorney's Office is unprecedented," Trump attorney Alan Futerfas said in a statement. "We are unaware of any case brought by that office concerning employee compensation, and we cannot find any such case ever brought by the IRS. Compensation cases are resolved by civil tax authorities, not criminal charges."
"The CFO himself directed that company records be deleted to conceal his participation in the scheme," Dunn said during the court proceedings. "Even now, there's been no attempt to impose discipline on the people involved, to report the crimes, to repay the proceeds, or even to amend any of the false tax returns. Instead, when confronted by our investigation, the company, at the highest levels, decided not to accept responsibility and cooperate, which is what companies do if they want to be viewed as a good corporate citizen. Instead, it forced us into litigation for a year and a half, including two trips to the Supreme Court."
This post was edited on 7/1/21 at 5:22 pm
Posted on 7/1/21 at 4:47 pm to TheBoo
$1.76 million over 15 years?? This dude was probably making mid-7 figures per year and they think the company was really worried about $100k a year in benefits? What a fricking joke.
Posted on 7/1/21 at 4:48 pm to TheBoo
quote:
"This was a 15-year-long tax fraud scheme," said Carey Dunn, general counsel for the Manhattan DA's office. "It was orchestrated by the most senior executives."
"During the operation of the scheme, the defendants arranged for Weisselberg to receive indirect employee compensation from the Trump Organization in the approximate amount of $1.76 million ... in ways that enabled the corporate defendants to avoid reporting it to the tax authorities," the indictment said.
Posted on 7/1/21 at 4:49 pm to TheBoo
quote:
Carey Dunn,
Carey Dunn is about to get her arse handed to her ....She needs to go to releasing criminals from jails for the betterment of New York City and Manhattan ....
Guarantee Dunn ...you stupid bitch ....the Legal team you will face will mop the floor with you ...face down.
Posted on 7/1/21 at 4:51 pm to TheBoo
1.76 million is like any of us dropping a $20 on the sidewalk and the wind blowing it away. How ridiculous is this to go after a gigantic NYC corporation over what amounts to an accounting error.
Unbelievable
Unbelievable
Posted on 7/1/21 at 4:55 pm to TheBoo
I’d be shocked if there was a single organization like this that doesn’t do the exact same to thing.
It’s all about continuing to destroy Trump’s name and brand for 2024
It’s all about continuing to destroy Trump’s name and brand for 2024
Posted on 7/1/21 at 4:57 pm to TheBoo
I am hardly the biggest Trump fan, but this looks like BS. This is basic tax audit stuff.
quote:
"We are unaware of any case brought by that office concerning employee compensation, and we cannot find any such case ever brought by the IRS. Compensation cases are resolved by civil tax authorities, not criminal charges."
Posted on 7/1/21 at 4:59 pm to BigJim
2 year investigation and this is it.
money well spent
money well spent
Posted on 7/1/21 at 4:59 pm to TheBoo
Communist using government positions to punish opponents must end.
Posted on 7/1/21 at 5:00 pm to BigJim
quote:it is 100% political BS
I am hardly the biggest Trump fan, but this looks like BS.
I’m getting a good laugh at all the people acting like they got Trump finally or saying more to come!!
Posted on 7/1/21 at 5:01 pm to BayBengal9
quote:
$1.76 million over 15 years?? This dude was probably making mid-7 figures per year and they think the company was really worried about $100k a year in benefits? What a fricking joke.
How many millions did the Manhattan DA spend to find this amount?
Posted on 7/1/21 at 5:10 pm to taeemwar
Let me see if I understand this correctly the IRS has audited trumps tax returns for over eight years and has found nothing and it’s their job to do it yet the New York district attorney found this amazing hidden egg
By the way Siri frickin sucks
By the way Siri frickin sucks
This post was edited on 7/1/21 at 5:13 pm
Posted on 7/1/21 at 5:11 pm to TheBoo
Didn't some other DA or the AG say they were not charging Trump and Co (or did not have sufficient evidence)?
Posted on 7/1/21 at 5:13 pm to IslandBuckeye
Al Sharton laughs at those rookie numbers
Posted on 7/1/21 at 5:17 pm to IslandBuckeye
quote:
Didn't some other DA or the AG say they were not charging Trump and Co (or did not have sufficient evidence)?
FWIW
quote:
@JackPosobiec ·5m
NY AG Liaison tells WH that Trump is “Clean” and said charging him with anything would be like building a “paper bridge over a volcano” nearly impossible, and if done it would “crumble in a matter of no time,” per WH official
Posted on 7/1/21 at 5:19 pm to TheBoo
I wonder if the son and daughter in law are out of the will for helping this along.
This is such low hanging fruit in NYC. Interesting to see how other money folks will do here.
Def a political hack job.
This is such low hanging fruit in NYC. Interesting to see how other money folks will do here.
Def a political hack job.
Posted on 7/1/21 at 5:19 pm to TheBoo
so almost 3 years of investigating and they find benefits from over 15 years, that are perfectly legal, and its not even $2 million dollars worth?
Holy shite, this is pathetic.
Holy shite, this is pathetic.
Posted on 7/1/21 at 5:33 pm to TheBoo
The CFO will get off, maybe pay a fine. But they got the headline and that's all they wanted to begin with.
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