Two of Donald Trump’s companies, The Trump Corporation and The Trump Payroll Corp., have been sentenced in the criminal case brought against them for tax fraud and other financial felonies. The sentence was imposed this morning by Judge Juan Merchan in a Manhattan criminal court. Manhattan District Attorney Alvin Bragg explained that they’ll pay the maximum fines under New York State”™s Tax and Penal Laws, totaling $1.61 million.
The Trump Corporation, convicted of nine felonies, was sentenced to the maximum fine of $810,000. The Trump Payroll Corp., convicted of eight felonies, was sentenced to the maximum fine of $800,000.
Both companies were convicted in a trial that saw former Trump CFO Allen Weisselberg testifying against the companies and admitting his role in the scheme to pay Trump employees off the books in order to evade paying withholding and income taxes. Weisselberg was sentenced to five months in the Rikers Island prison. He’ll also serve five years on probation. Weisselberg, who pleaded guilty to all 15 criminal charges, paid back over $2 million in back taxes, penalties and interest and was sentenced on Jan. 10.
“While corporations can”™t serve jail time, this consequential conviction and sentencing serves as a reminder to corporations and executives that you cannot defraud tax authorities and get away with it,” Bragg said. “It is also an important reminder that our state law must change so that we can impose more significant penalties and sanctions on corporations that commit crimes in New York. Today”™s sentencing of The Trump Corporation and The Trump Payroll Corp. represents a significant chapter of our ongoing investigation into the former president and his businesses.”
