Daily US Times: On Thursday, New York prosecutors charged the Trump Organization and its chief financial officer (CFO), Allen Weisselberg, with a 15-year alleged tax scheme that marked the first criminal case against the former US President’s namesake company.
An indictment published on Thursday by the Manhattan district attorney’s office charged the company and an entity called Trump Payroll Corporation with 10 counts and Mr Weisselberg with 15 felony counts in connection with an alleged scheme stretching back to 2005 “to compensate Weisselberg and other Trump Organization executives in a manner that was ‘off the books.'”
They were charged with a scheme to criminal tax fraud, defraud, conspiracy and falsifying business records. Weisselberg was also charged with grand larceny and offering a false instrument for filing.
Prosecutors said that their investigation is ongoing. The probe has delved into whether the Trump Organization misled insurers, lenders and tax authorities about the value of certain properties, the treatment of tax deductions as well as hush money payments to silence an alleged affair with Mr Trump.
Thursday’s indictment, which focused largely on Weisselberg, described an array of luxury perks he received from the company allegedly in lieu of compensation, including a pair of Mercedes-Benz cars for him and his wife, a Upper West Side apartment and private school tuition for two family members whom are his grandchildren.
The indictment alleged that Mr Weisselberg evaded taxes on $1.76 million in income over a period beginning in 2005 and concealed for years that he was a resident of New York City, thereby avoiding paying city income taxes.