Trump Organization Found Guilty in 2 Mass Fraud Court Cases: Inflating Wealth on Financial Statements 200+ Times ($364M Verdict, $450 Million With Interest) & 17 Tax Fraud Felonies ($1.61M in Fines)
- Clark Kent
- Oct 3, 2024
- 3 min read
Trump's 5 Trials Clearinghouse
The Trump Organization is an American privately owned conglomerate owned by Donald Trump. It serves as the holding company for all of Trump's business ventures and investments, with around 250 of its affiliates and subsidiaries using the Trump name.
Trump Organization Inflated wealth on financial statements over 200x
The complaint accuses the company of more than 200 instances of false asset valuations, described as being derived from "objectively false assumptions and blatantly improper methodologies with the intent and purpose of falsely and fraudulently inflating Mr. Trump's net worth to obtain beneficial financial terms from lenders and insurers."
A New York judge ordered Donald Trump and his companies on Friday to pay $355 million in penalties, finding they engaged in a years long scheme to dupe banks and others with financial statements that inflated his wealth.
His eldest sons, Trump Organization Executive Vice Presidents Donald Trump Jr. and Eric Trump, each were ordered to pay $4 million and barred from being officers of New York companies for two years. Former chief financial officer Allen Weisselberg was ordered to pay $1 million.
The total $364 million verdict — which James’ office said grows to $450 million, adding interest — keeps the Trump Organization in business.
In 2019, ProPublica revealed stark inconsistencies between what the Trump Organization had reported to tax authorities and what it told lenders about the finances of one of its towers. A judge this week ruled the company had committed fraud.
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Trump Organization Tax Fraud
Trump Organization guilty on all 17 counts of fraud, falsifying business records and conspiracy
Former Trump Organization chief financial officer Allen Weisselberg testified in court Thursday, describing how Donald Trump and two of his children allegedly participated in a scheme to defraud tax authorities.
Trump was not even named in the case. 2 Justice Systems!
A jury in New York today found the Trump Organization guilty of 17 counts of fraud. It took the jurors about 10 hours to come back with their decision. The key witness in this trial, Trump CFO Allen Weisselberg, pleaded guilty to felony charges earlier this year and testified during the trial about the company’s payment practices.
The guilty verdict won’t affect Trump directly, but the Trump Organization could face up to $1.61 million in fines.
Former President Donald Trump's company was sentenced by a New York judge after a jury convicted two subsidiaries last month on 17 counts of tax fraud.
The conviction could lead to up to $1.6 million in fines for the former president’s company.
For Further Research:
Exposing Donald Trump, the Trump Crime Family, and the Republican Terrorist Organization behind him
Conman Trump Found Guilty of Charity Foundation Fraud (Settled for 2 Million) & Found Guilty For Running a Fake University (25 Million Settlement) + Defrauded Donors & Skimmed Kids' Cancer Charities
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