Trump Organization sentenced to maximum penalty for tax evasion

This is the maximum sentence that the American justice could pronounce in this case. The family business of former US President Donald Trump, the Trump Organization, was sentenced on Friday, January 13, in New York to a fine of 1.6 million dollars (1.48 million euros) for financial fraud and taxes, the Manhattan district attorney said in a statement.

The group of the American billionaire, candidate for the nomination of the Republican Party for the presidential election of 2024, was tried for tax evasion and falsification of accounting declarations, in particular with the aim of concealing financial compensation from certain senior leaders from the tax services.

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From October 2023, Donald Trump will appear in New York, with three of his children, Donald Jr, Eric and Ivanka, accused like them of fraudulent tax practices within the Trump Organization. But it will be a civil trial.

In this case, New York State Attorney General Letitia James accuses the Trump family of having “deliberately” manipulated the valuations of the group’s assets to obtain more advantageous loans from the banks, or even to reduce its taxes. She claims 250 million dollars in damages on behalf of the state, as well as the prohibition, for the ex-president and his relatives, to lead companies.

The World with AFP

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