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Donald Trump’s Company Will Be Sentenced For 15 Years Of Tax Fraud

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Donald Trump's Company Will Be Sentenced For 15 Years Of Tax Fraud

(CTN News) – On Friday, Donald Trump will learn how his company, which bears his name, will be punished for scheming to defraud tax authorities for 15 years.

In Manhattan last month, jurors found two Donald Trump Organization affiliates guilty of 17 criminal charges. A state judge will impose the sentence.

The sentencing comes three days after Justice Juan Merchan of the Manhattan criminal court ordered Allen Weisselberg, who worked for Donald Trump family for a half-century and was the company’s former chief financial officer, to jail for five months after testing as the prosecution’s star witness.

There is a maximum penalty of $1.6 million for Donald Trump company, but it has said it will appeal. The case does not involve any other charges or jail time.

A criminal investigation into Trump’s business practices is still being conducted by Manhattan District Attorney Alvin Bragg’s office.

Professor Bill Black, an expert in white-collar crimes at the University of Missouri-Kansas City School of Law, has called the expected penalty a “rounding error” with no deterrent effect.

“It’s a farce,” he said. In spite of this sentence, no one will stop committing these kinds of crimes.”

The case has long been a thorn in the side of the former Republican president, who calls it a witch hunt by Democrats who dislike him.

A $250 million civil lawsuit filed by state Attorney General Letitia James accuses Trump and his adult children Donald Trump Jr., Ivanka Trump, and Eric Trump of inflating their net worths to save money on loans and insurance.

Cyrus Vance, who brought the criminal case before Bragg’s predecessor, is also a Democrat. As a result of losing his re-election bid in 2020, Trump will seek the presidency in 2024.

As part of a four-week trial, prosecutors offered evidence that Trump’s company covered personal expenses such as rent and car leases for executives without reporting them as income. They also claimed that Christmas bonuses were not employee compensation.

Prosecutors said Trump personally signed bonus checks, Weisselberg’s lease, and private school tuition for Weisselberg’s grandchildren.

In his closing argument, Assistant District Attorney Joshua Steinglass told jurors that “the whole narrative that Donald Trump was blissfully ignorant is just not true.

Though Weisselberg said Trump wasn’t involved in the fraud scheme, his testimony helped convict the company. Moreover, he refused to assist Bragg in his investigation of Trump on a broader scale.

Weisselberg was on paid leave until the Trump Organisation severed ties this week. According to his lawyer, the split was amicable.

The 75-year-old is serving his sentence in New York City’s notorious Rikers Island jail.

Generally, Justice Merchan can only impose a limited number of penalties on Trump’s company under state law. Tax-related counts can result in fines of up to $250,000, while non-tax counts can result in fines of up to $10,000.

Other legal troubles Trump faces include those related to the attack on the US Capitol on Jan. 6, 2021, the retention of classified documents after leaving the White House, and an appeal for a reversal of his Georgia election defeat in 2020.

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