Trump Organization convicted of criminal tax fraud

Name: WORLD
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A Manhattan jury on Tuesday found two subsidiary companies of the Trump Organization guilty of a combined seventeen criminal charges, including criminal tax fraud, falsifying business records, and conspiracy. The trial began in late October. After closing arguments finished Friday, the jury members deliberated for two days before convicting the subsidiary Trump Corporation of nine criminal charges and the Trump Payroll Corporation of eight criminal charges. Former President Donald Trump and his family were not charged in the case.

What does this mean for the company? The organization could face up to $1.61 million in fines during the sentencing that is scheduled for January. While the company is not at risk of being dismantled, the conviction could impact the firm’s ability to obtain loans in the future. Defense attorney Allen Futerfas said the verdicts are likely to be appealed.

Dig Deeper: Read Carolina Lumetta’s report for The Stew about reactions to former president Donald Trump’s campaign announcement.

Lauren Canterberry

Lauren Canterberry is a reporter for WORLD. She graduated from the World Journalism Institute and the University of Georgia with a degree in journalism, both in 2017. She worked as a local reporter in Texas and now lives in Georgia with her husband.