Donald Trump, the presumptive GOP nominee for President in 2024, has just taken a significant legal hit in New York State.
For years, New York Attorney General Letitia James has looked for ways to defame and damage The Don, and it appears as though her investigation into The Trump Organization has provided just that.
A Manhattan jury has found former President Donald Trump’s namesake real estate company guilty of criminal tax fraud, three weeks after Trump announced a third presidential run.Advertisement - story continues below
The jury found the two entities of the Trump Organization guilty as charged on all counts, including scheme to defraud, conspiracy, criminal tax fraud and falsifying business records.
The two entities — the Trump Corporation and the Trump Payroll Corporation — were accused of paying the personal expenses of some executives without reporting them as income, and for compensating them as independent contractors instead of full-time employees. Each entity was charged with scheme to defraud, conspiracy, criminal tax fraud and falsifying business records.
There could be a wide-ranging fallout from the verdict.
The conviction carries fines of up to $1.7 million. But collateral consequences of a conviction may be more significant to Trump, who is seeking a second term 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.
Donald Trump himself was not personally on trial in the case, however, and the former President has repeatedly denied any wrongdoing.