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Donald Trump’s company, the Trump Organization, was found guilty of tax fraud in court on Tuesday. Former US president’s family business could be fined.
The Trump Organization owns hotels, golf courses and other real estate. The company has been under investigation for years due to suspicions that it did not properly report all expenses to the tax authorities. For example, the Trump Organization paid senior staffers personal expenses without reporting them.
A jury in a New York court on Tuesday found the company guilty of tax fraud. The Trump Organization has always denied any wrongdoing.
On January 13, the consequences of the ruling for the Trump Organization will be announced. It’s probably about a fine of more than 1 million dollars (about 955,000 euros). CNN. For such a large company, fines may not have much effect. Confidence has it: it makes lenders and business partners less eager to do business.
Trump did not appear for trial in the case. Another investigation into the Trump Organization is underway, led by Attorney General Letitia James. That investigation also covered financial fraud, but focused more on the value of Trump assets.
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