Trump Organization to Pay Total Maximum Fine of $1.61 Million
Manhattan District Attorney Alvin L. Bragg, Jr. today announced the sentencing of THE TRUMP CORPORATION and THE TRUMP PAYROLL CORP., following the first-ever criminal conviction of former President Trump’s companies. Based on the magnitude of the long-running scheme to defraud tax authorities and the all-count convictions, the People recommended the maximum fines under New York State’s Tax and Penal Laws, totaling $1.61 million. THE TRUMP CORPORATION, convicted of nine felonies, was sentenced to the maximum fine of $810,000. THE TRUMP PAYROLL CORP., convicted of eight felonies, was sentenced to the maximum fine of $800,000.
“Today, former President Trump’s companies were sentenced to the maximum fines allowed by law following historic convictions for a total of 17 felony crimes,” said District Attorney Bragg. “Chief Financial Officer Allen Weisselberg, The Trump Corporation, and The Trump Payroll Corp. conducted and benefitted from sweeping fraud for well over a decade. While corporations can’t serve jail time, this consequential conviction and sentencing serves as a reminder to corporations and executives that you cannot defraud tax authorities and get away with it. It is also an important reminder that our state law must change so that we can impose more significant penalties and sanctions on corporations that commit crimes in New York. Today’s sentencing of The Trump Corporation and The Trump Payroll Corp. represents a significant chapter of our ongoing investigation into the former President and his businesses.”
The evidence presented to the jury proved that these two companies intentionally committed a sophisticated tax fraud scheme for more than a decade at the Trump Tower offices. Chief Financial Officer WEISSELBERG, who pleaded guilty to all 15 criminal charges, testified at trial implicating both THE TRUMP CORPORATION and THE TRUMP PAYROLL CORP. He paid back over $2 million in back taxes, penalties and interest and was sentenced on January 10, 2023, to five months in jail and five years’ probation for his role in the tax fraud scheme.
The case was tried by Chief of the Investigation Division Susan Hoffinger, Senior Trial Counsel Joshua Steinglass, Special ADA Gary T. Fishman, who was cross designated for this case, Senior Investigative Counsel Imran Ahmed, Special ADA Elyssa Abuhoff and Special ADA Caroline Williamson.
District Attorney Bragg thanked New York Attorney General Letitia James and her senior staff, particularly Gary T. Fishman, the Attorney General’s Director of the Crime Proceeds Strike Force and Special Advisor to the Criminal Justice Division, for their continued partnership and collaboration on this matter.
D.A. Bragg also thanked the New York State Department of Taxation and Finance and the New York City Department of Finance for their assistance.
D.A. Bragg also thanked the following individuals for their assistance in investigating and trying the case: Assistant AG Gregory Morril, who was cross designated as Special ADA for this case; Investigative Analysts Gabrielle Hoessly and Serena Lu, and Trial Preparation Assistant Ethan Katz, of the Major Economic Crimes Bureau; Forensic Accountant Investigator Francine Wexler, and Supervising Financial Investigator Wei Man Tang, both under the supervision of Robert Demarest and Irene Serrapica, Chief and Principal Deputy Chief of the Forensic Accounting and Financial Investigations Bureau; and Rackets Investigator Ethan Zubkoff and Senior Rackets Investigator Anthony DiCaprio, both under the supervision of Walter Alexander and Michael Wigdor, Chief and Assistant Chief Investigator.
THE TRUMP CORPORATION
THE TRUMP PAYROLL CORP.
New York, New York
- Scheme to Defraud in the First Degree, a class E felony, one count
- Conspiracy in the Fourth Degree, a class E felony, one count
- Criminal Tax Fraud in Third Degree, a class D felony, two counts
- Criminal Tax Fraud in the Fourth Degree, a class E felony, one count
- Falsifying Business Records in the First Degree, a class E felony, three counts
THE TRUMP CORPORATION was also convicted of an additional count of:
- Falsifying Business Records in the First Degree, a class E felony
THE TRUMP CORPORATION:
Maximum authorized fine of $810,000
THE TRUMP PAYROLL CORP:
Maximum authorized fine of $800,000