Tag

#tax-fraud

4 incidents

Updated January 13, 2023 Corruption & Self-Dealing
Major Abuse of Power

Trump Organization Convicted on 17 Counts of Criminal Tax Fraud

Weisselberg, the Trump Organization's CFO for decades, had pleaded guilty in August 2022 to 15 felony counts and agreed to cooperate with prosecutors. He testified against the company. The Trump Organization received $1.76 million in off-the-books compensation for Weisselberg and other executives over 15 years. The company was convicted on all 17 counts, including scheme to defraud and falsifying business records. The $1.6 million fine was the maximum allowed but was a fraction of what corporate criminal fines typically run; prosecutors noted the fine was limited by statute.

Sources
4
Trump-Organizationtax-fraudWeisselbergconvictionpost-presidency
Updated December 12, 2018 Corruption & Self-Dealing
Major Abuse of Power

Michael Cohen's Crimes Done at Trump's Direction: Tax Fraud, Bank Fraud, Campaign Finance

Cohen's guilty plea was not just his own conviction — it was Trump's implication. Cohen stated in federal court that the campaign finance crimes (the Daniels and McDougal payments) were committed 'in coordination with and at the direction of' a candidate for federal office. The federal prosecutors who accepted his plea treated Trump as an unindicted co-conspirator. Cohen served three years in federal prison; Trump, protected by the OLC no-indictment policy, was not indicted federally until after leaving office.

Sources
4
Michael-Cohencampaign-financetax-fraudbank-fraudpre-presidency
Updated October 2, 2018 Corruption & Self-Dealing
Major Abuse of Power

Tax Fraud Investigation: Trump Helped Receive $413 Million Through Fraudulent Schemes

The Times investigation identified multiple strategies: Fred Trump created a shell company called All County Building Supply & Maintenance to collect money from Trump properties, which was then used to justify large increases in maintenance fees that were passed to Trump children as untaxed income; Fred Trump's estate was valued at far below market rates to reduce estate taxes; and the children, acting in concert, were able to receive hundreds of millions in what amounted to gifts but were legally classified in ways that minimized tax exposure. The New York Department of Taxation opened a review.

Sources
3
tax-fraudinheritanceFred-Trumppre-presidencyfinancial
Updated September 27, 2020 Corruption & Self-Dealing
Major Abuse of Power

Decades of Tax Fraud: How Trump and the Trump Family Evaded Taxes on Over $1 Billion in Inherited Wealth

The Times obtained decades of Fred Trump's tax records showing the family used fraudulent asset undervaluation, sham consulting fees, and a dummy corporation ('All County Building Supply') to transfer over $1 billion in wealth to Trump and his siblings while evading hundreds of millions in estate and gift taxes. A separate 2020 investigation found Trump had paid virtually no federal income tax for years.

Sources
4
tax-fraudcorruptionpre-presidencyFred-Trumpinheritance