Trump Organization fined $1.6 million for long-running tax fraud scheme
The Trump Organization was hit with $1.6 million in fines Friday when a New York judge sentenced it for running a 15-year tax fraud scheme that prosecutors said top executives at the company orchestrated out of pure greed. Trump Corp. and Trump Payroll Corp. — both subsidiaries of the Trump Organization — were convicted last month on 17 counts, including conspiracy, criminal tax fraud and falsifying business records. Prosecutor Joshua Steinglass had urged acting Manhattan Supreme Court Justice Juan Merchan to fine each company the maximum allowed under the law. “The sheer magnitude of the fraud calls for the maximum possible fine for falsifying business records and helping senior managers evade taxes as they defrauded the tax authorities. The crimes were deep, wide and long, lasting for decades," Steinglass said. "The conduct can only be described as egregious." The judge agreed, fining Trump Corp. $810,000 and Trump Payroll $800,000. Manhattan District Attorney Alvin Br...