The former president’s family business was previously found guilty of 17 financial crimes following a trial in New York.
Donald Trump’s family business has been fined the maximum $1.6 million for carrying out a 15-year scheme to defraud tax authorities.
New York Judge Juan Manuel Merchan handed down the fine after The Trump Organization was found guilty of 17 counts of tax fraud and other financial crimes following a trial in December.
Neither the former president nor his family were charged in connection to the investigation into his real estate business, and weren’t present during the court proceedings on Friday.
Instead, it was two Trump Organization entities—the Trump Corporation and the Trump Payroll Corp—which were guilty of having avoided paying taxes by compensating executives through « off-the-books » benefits such as apartments and luxury cars.
As it was a company that was convicted of the offenses, the maximum penalty it could receive was a $1.6 million fine.
While the relatively small fine won’t overtly affect The Trump Organization, a multimillion dollar company with a portfolio of golf courses, hotels, and properties across the world, it may damage the former president’s reputation as a savvy businessman in a year in which he is expected to start ramping up his 2024 presidential campaign.
