Trump’s company “cheated” the IRS, says a New York prosecutor

Former President Donald Trump’s real estate company misled tax authorities over a 15-year period, a New York prosecutor said Monday in her opening statement in the criminal tax fraud trial against the Trump Organization.

From at least 2005 to 2021, the Trump Organization paid executives — including its chief financial officer, Allen Weisselberg — in perks like rentals and car rentals without reporting those benefits to tax authorities, said Susan Hoffinger of the U.S. Attorney’s office. Manhattan district.

“The scheme was driven, directed and authorized at the highest levels of the company’s accounting department,” Hoffinger said. “Everyone wins here (…) Everyone except the treasury. The problem with doing it this way is that it is not legal.”

The Trump Organization has pleaded not guilty. Trump has not been charged in the case.

Susan Necheles, an attorney for the Trump Corporation, one of two units of the Trump Organization charged in the case, said the trial is about Weisselberg’s personal tax returns.

“Keep in mind the extreme pressure that Mr. Weisselberg is under,” Necheles said. “This starts with Allen Weisselberg and ends with Allen Weisselberg.”

Weisselberg evaded taxes on $1.76 million in personal income through luxury perks, such as renting a Manhattan apartment. He agreed to testify as a prosecution witness at trial. as part of an agreement in exchange for a sentence of five months in prison.

If convicted, the Trump Organization – which operates hotels, golf courses and other real estate around the world – could face fines of up to $1.6 million. It could also further complicate the real estate company’s ability to do business.

A unanimous verdict is required for conviction on each count of tax fraud, scheme to defraud, and falsifying business records.

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