BREAKING: Jury finds former President Trump's namesake real estate company guilty of criminal tax fraud.
in the White House. Banks could call in loans and business partners could cancel contracts if their internal policies prevent them from doing business with felons.
The trial also revealed potentially embarrassing details about Trump, including that he reported nearlyover a two-year period in 2009 and 2010, as well as losses each year for the decade between 2009 and 2018 -- some of the same years Trump was touting his business acumen on reality television and as he was campaigning for president.
Prosecutors believed the Trump Organization was culpable because the conduct of CFO Allen Weisselberg benefitted the company and because his position as CFO meant he was entrusted to act on the company's behalf.to charges that he skirted taxes on nearly $2 million in company-provided perks that included the rent on his Manhattan apartment, the leases on cars for himself and his wife and tuition for his grandchildren.
Following the verdict, a spokesperson for the Trump Organization told ABC News in a statement, "Mr. Weisselberg testified under oath that he 'betrayed' the trust the company had placed in him and that he, at all times, acted 'solely' for his 'own personal gain' and out of his 'own personal greed'. The notion that a company could be held responsible for an employee's actions, to benefit themselves, on their own personal tax returns is simply preposterous.
"The prosecution's case rests on one thing: trying to convince you, the jurors, that Mr. Weisselberg's actions were done in behalf of the company," defense attorney Susan Necheles told the jury. "They were not. They were done solely to benefit himself. And that is the critical issue in this case.""By far the most significant benefit ...
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