Trump is also involved in a tax evasion case; $1.6 million in fines if convicted Donald Trump knew about company executive’s tax fraud scheme US News

Houston ∙ It seems that the former President of the United States, Donald Trump, is in trouble now! Kanye West’s meeting with his friend Varna Verian has sparked an uproar in his own party. The work of the tongue itself is necessary. Now, evidence is emerging against Trump in the tax evasion case. The Trump Organization allegedly reaped significant profits from a 15-year tax fraud scheme.

The prosecutor’s disclosure near the end of the trial of former US President Donald Trump’s real estate company is seen as a major setback for Trump. The prosecutor’s disclosure underscores Trump’s lawyer’s claim that the executive is manipulating the company for personal gain.

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Joshua Steinglass of the Manhattan District Attorney’s Office told jurors in his argument that the plan helped reduce Trump’s company payroll costs, shift tax deductions to Trump entities like his MarElago Club, lower payroll taxes and keep executives happy.

The Trump Organization is innocent of paying personal expenses to some executives without reporting their income and compensating them as if they were independent contractors, it has been argued. The fact that Trump is not personally connected to the case also gives him an advantage.

The prosecution also alleged that the company’s chief operating officer and former general counsel received Christmas bonuses as if they were independent contractors. These are interpreted as rewards paid in connection with tax evasion.

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If convicted on all nine counts, Trump’s company could face fines of up to $1.6 million. Jury deliberations are expected to begin on Monday. Steinglass is expected to finish his closing arguments on Friday.

Defense attorneys argued to jurors Thursday that Weiselberg’s motive was to benefit himself, not the company. Susan Nechels, one of Trump’s company attorneys, argued that Wieselberg betrayed the Trump family’s trust by working against a company that had operated for five decades out of greed.

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But Steinglass pointed to Weiselberg’s disclosure that Trump’s company saved hundreds of thousands of dollars by hiding the $7,000-a-month rent for a luxury Manhattan apartment and other expenses. He also said the scheme helped executives cut their personal tax bills. The smorgasbord of benefits is designed to keep its top executives happy and loyal, Steinglass said.

Weiselberg, 75, revealed that the company paid for his wife’s car rental and paid for his son’s apartment by falsifying salary statements to claim Social Security benefits. Corporations now pay him some salary out of pocket.

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Former US President Donald Trump

Former US President Donald Trump waves as he walks to a vehicle outside Trump Tower in New York City. (Photo by STRINGER / AFP)

Weiselberg is expected to spend five months in prison after pleading guilty to tax fraud and other charges. He is currently on paid leave. An additional bonus of $500,000 is expected in January. Trump, a Republican, has called the allegations political. Manhattan District Attorney Alvin Bragg is a Democrat. His predecessor, Cyrus Vance, is from the same party. Trump claims he was the one who accused him last year.

The case is separate from New York Attorney General Letitia James’ $250 million civil lawsuit. The lawsuit alleges that Trump, his three sons, and his company obtained loans and insurance from banks that inflated the value of Trump’s assets. Trump is facing federal investigations into removing government documents from the White House after leaving office and trying to reverse a 2020 election loss. Apart from that, there is a new case.

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Meanwhile, a new controversy arose when Trump demanded that the constitution be frozen to nullify his loss in the 2020 election and declare himself the winner. ‘Will you annul the results of the 2020 presidential election and declare the rightful winner? Or is there a new election? A massive fraud of this magnitude would allow the termination of all the laws, regulations and articles found in the Constitution,’ he wrote on Truth Social.

He imposed anti-democratic norms and said another word for his electoral defeat for two years. Trump continued in his message that the ‘Founders’ of the Constitution agreed with him. Trump’s post comes two weeks after restoring his Twitter account. He also accused alleged ‘big tech’ of working closely with the Democrats.

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Donald Trump, Ivanka

White House Spokesman Andrew Bates came out strongly criticizing Trump’s statement. He called the US Constitution a ‘sacred document’. “The United States Constitution is a sacred document that has guaranteed freedom and the rule of law in our great nation for over 200 years. The Constitution brings the American people together and elected leaders, regardless of party, swear an oath to uphold it.

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“This is the ultimate monument to all Americans who have given their lives to defeat self-serving tyrants who have abused their power and trampled on basic rights,” he said in a statement. Trump’s unconstitutional declaration will almost certainly lead to new controversies.

English Summary: Donald Trump knew about a company executive’s tax fraud scheme, the Prosecutor said

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