Can Trump’s Hotels Ever Recover From Tax Fraud Charges?
Photo Credit: Prosecutors in New York filed charges against the Trump Organization as well as its chief financial officer. Pxhere
Skift Take
This is only the start of mounting legal issues for the Trump Organization. Prosecutors typically start small with charges as they look for ways to get people to flip and bring down a bigger whale.
The Manhattan District Attorney’s office filed tax fraud-related charges Wednesday night that were made public Thursday afternoon against The Trump Organization and Allen Weisselberg, the company's chief financial officer.
The company was charged with a 15-year scheme enabling executives to avoid taxes by paying them off the books. Weisselberg was indicted on conspiracy, grand larceny, and fraud charges related to allegations of not paying taxes for years on various perks and benefits. Fifteen charges in total were filed between the company and its CFO.
The Trump Organization and Weisselberg pleaded not guilty at an arraignment Thursday afternoon, the Associated Press reports.
The charges against former President Donald Trump’s namesake company — owner of various commercial real estate ventures like hotels, golf clubs, and residential developments — aren’t a surprise. The Trump Organization issued a statement Thursday morning labeling the charges as a political witch
