• About
  • Advertise
  • Privacy Policy
  • Contact
Wednesday, October 15, 2025
  • Login
The Vaultz News
  • Top Stories
  • News
    • General News
    • Education
    • Health
    • Opinions
  • Economics
    • Economy
    • Finance
      • Banking
      • Insurance
      • Pension
    • Securities/Markets
  • Business
    • Agribusiness
    • Vaultz Business
    • Extractives/Energy
    • Real Estate
  • World
    • Africa
    • America
    • Europe
    • UK
    • USA
    • Asia
    • Around the Globe
  • Innovation
    • Technology
    • Wheels
  • Entertainment
  • 20MOBPL2DNew
  • Jobs & Scholarships
    • Job Vacancies
    • Scholarships
No Result
View All Result
The Vaultz News
  • Top Stories
  • News
    • General News
    • Education
    • Health
    • Opinions
  • Economics
    • Economy
    • Finance
      • Banking
      • Insurance
      • Pension
    • Securities/Markets
  • Business
    • Agribusiness
    • Vaultz Business
    • Extractives/Energy
    • Real Estate
  • World
    • Africa
    • America
    • Europe
    • UK
    • USA
    • Asia
    • Around the Globe
  • Innovation
    • Technology
    • Wheels
  • Entertainment
  • 20MOBPL2DNew
  • Jobs & Scholarships
    • Job Vacancies
    • Scholarships
No Result
View All Result
The Vaultz News
No Result
View All Result

Court Fines Trump Organization $1.6 Million For Tax Fraud 

Comfort Ampomaaby Comfort Ampomaa
January 13, 2023
Reading Time: 4 mins read
Comfort Ampomaaby Comfort Ampomaa
in USA
0
Court Fines Trump Organization $1.6 Million For Tax Fraud 

Pedestrians pass security barricades in front of Trump Tower, Wednesday, Feb. 17, 2021, in New York

Former President Donald Trump’s firm, Trump Organization was fined a whopping sum of $1.6 million on Friday, January 13, 2023 as punishment for an arrangement in which the top executives evaded personal income taxes on lavish job.

A fine was the only penalty a judge could impose on the Trump Organization for its conviction last month for 17 tax crimes, including conspiracy and falsifying business records. This is because the Trump Organization is a corporation and not a person.

The amount imposed by Judge Juan Manuel Merchan was the maximum allowed by law, an amount equal to double the taxes a small group of executives avoided on benefits including rent-free apartments in Trump buildings, luxury cars and private school tuition.

RelatedPosts

Bessent Points to US-China De-Escalation After Tariff Threats

Trump Raises Prospect Of Another Trade War With China

Nobel Committee Criticised After Trump Misses Peace Prize

Trump himself was not on trial and denied any knowledge of his executives evading taxes illegally.

While the fine which is less than the cost of a Trump Tower apartment, is not big enough to impact the company’s operations or future, the conviction is a stain on Trump’s reputation as an astute businessman as he mounts a campaign to regain the White House.

Neither the former President nor his children, who helped manage and promote the Trump Organization, were in the courtroom for the sentence hearing.

ADVERTISEMENT

Prosecutor Joshua Steinglass noted that the fine constitutes “a fraction of the revenue” of the Trump Organization and that the scheme was “far-reaching and brazen.”

“All of these corrupt practices were part of the Trump Organization executive compensation package, and it was certainly cheaper than paying higher salaries to those executives.”

Joshua Steinglass

Besides the company, only one executive was charged in the case; former Trump Organization Chief Financial Officer, Allen Weisselberg, who pleaded guilty last summer to evading taxes on $1.7 million in compensation.

Weisselberg has been sentenced to five months in jail.

Trump has argued that the case against his company was part of a politically motivated “witch hunt” waged against him by vindictive Democrats. The company’s lawyers have vowed to appeal the verdict.

1000 26 1
Former President Donald Trump waves as he departs Trump Tower, Wednesday, Aug. 10, 2022, in New York

The criminal case involved financial practices and pay arrangements that the company halted when Trump was elected president in 2016.

Over his years as the company’s Chief Financial Officer, Weisselberg had received a rent-free apartment in a Trump-branded building in Manhattan. He and his wife drove Mercedes-Benz cars, leased by the company.

Trump paid the tuition of Weisselberg’s grandchildren when they went to an exclusive private school. A handful of other executives received similar perks.

When called to testify against the Trump Organization at trial, Weisselberg testified that he did not pay taxes on that compensation, and that he and a company Vice President conspired to conceal the perks by having the company issue falsified W-2 forms.

Trump Organization’s Conviction Does Not End Trump’s Legal Battles

The Trump Organization’s conviction and sentencing do not end Trump’s battle with Manhattan District Attorney Alvin Bragg, a Democrat who took office in January.

Bragg revealed that a related investigation of Trump that began under his predecessor, Cyrus Vance Jr., is “active and ongoing,” with a newly hired prosecutor leading the charge.

At the same time, New York Attorney General Letitia James is suing Trump and the Trump Organization, alleging that they misled banks and others about the value of its many assets, a practice she called the “art of the steal.”

James, a Democrat, is asking a court to ban Trump and his three eldest children from running any New York-based company and is seeking to fine them at least $250 million.

 A judge has set an October trial date. As a preliminary measure, the judge appointed a monitor for the company while the case is pending.

Trump faces several other legal challenges as he seeks to pursue the seat of presidency in 2024.

READ ALSO: Japan: Man Suspected Of Assassinating Former Prime Minister Shinzo Abe Indicted

Tags: courtDonald TrumpFineTrump Organization
Please login to join discussion
Previous Post

Government Accrued Gh¢10.84bn From T-bills in December 2022

Next Post

Access Bank Nigeria’s Plan To Acquire Sidian Bank Ltd From Centum Investment Co. Rebounds

Subscription Form

Related Posts

Trump Deems Zelenskyy’s Presence At Ceasefire Talks Unimportant
USA

Bessent Points to US-China De-Escalation After Tariff Threats

October 13, 2025
Trump Rebuffs Putin’s Offer To Aid Israel-Iran Conflict Mediation
USA

Trump Raises Prospect Of Another Trade War With China

October 11, 2025
Trump Rebuffs Putin’s Offer To Aid Israel-Iran Conflict Mediation
USA

Nobel Committee Criticised After Trump Misses Peace Prize

October 10, 2025
U.S Senate Approves Debt Ceiling Deal
USA

US Government Shutdown Persists For Ninth Day

October 11, 2025
US, UK, Australia Impose Sanctions On Alleged Hamas-Affiliated Networks
USA

US Sanctions 50 Entities For Facilitating Iranian Oil Shipments

October 9, 2025
Former FBI Director, James Comey
USA

Comey Pleads Not Guilty To Charges Of Lying To Congress

October 8, 2025
ORAL Prosecutions: Allow AG To Hasten Slowly – Yendi MP
Uncategorized

ORAL Prosecutions: Allow AG To Hasten Slowly – Yendi MP

by Emmanuel Tibila BoasahOctober 14, 2025
Newmont Partners Government in the Sunyani–Ntotroso–Acherensua Highway Rehabilitation
Extractives/Energy

Newmont Partners Government in the Sunyani–Ntotroso–Acherensua Highway Rehabilitation

by Bless Banir YarayeOctober 14, 2025
Trump Rebuffs Putin’s Offer To Aid Israel-Iran Conflict Mediation
Asia

Trump Announces Phase Two of Gaza Ceasefire Plan

by Comfort AmpomaaOctober 14, 2025
Volta Region Readies for 24-Hour Economy Policy Program
Economy

Volta Region Readies for 24-Hour Economy Policy Program

by Michael Teye-Bio NaduteyOctober 14, 2025
December in Ghana 2025 Launched to Unite Diaspora and Boost Tourism
Entertainment

December in Ghana 2025 Launched to Unite Diaspora and Boost Tourism

by Silas Kafui AssemOctober 14, 2025
NDPC Chair Dr. Nii Moi Thompson, launching the 2024 National Annual Progress Report (APR) on the implementation of the Agenda for Jobs II (2022–2025)
General News

Ghana Makes Bold Strides: NDPC Unveils 2024 National Progress Report on Agenda for Jobs II

by Evans Junior OwuOctober 14, 2025
ORAL Prosecutions: Allow AG To Hasten Slowly – Yendi MP
Newmont Partners Government in the Sunyani–Ntotroso–Acherensua Highway Rehabilitation
Trump Rebuffs Putin’s Offer To Aid Israel-Iran Conflict Mediation
Volta Region Readies for 24-Hour Economy Policy Program
December in Ghana 2025 Launched to Unite Diaspora and Boost Tourism
NDPC Chair Dr. Nii Moi Thompson, launching the 2024 National Annual Progress Report (APR) on the implementation of the Agenda for Jobs II (2022–2025)

Recent News

ORAL Prosecutions: Allow AG To Hasten Slowly – Yendi MP

ORAL Prosecutions: Allow AG To Hasten Slowly – Yendi MP

October 14, 2025
Newmont Partners Government in the Sunyani–Ntotroso–Acherensua Highway Rehabilitation

Newmont Partners Government in the Sunyani–Ntotroso–Acherensua Highway Rehabilitation

October 14, 2025
Trump Rebuffs Putin’s Offer To Aid Israel-Iran Conflict Mediation

Trump Announces Phase Two of Gaza Ceasefire Plan

October 14, 2025
Volta Region Readies for 24-Hour Economy Policy Program

Volta Region Readies for 24-Hour Economy Policy Program

October 14, 2025
December in Ghana 2025 Launched to Unite Diaspora and Boost Tourism

December in Ghana 2025 Launched to Unite Diaspora and Boost Tourism

October 14, 2025
NDPC Chair Dr. Nii Moi Thompson, launching the 2024 National Annual Progress Report (APR) on the implementation of the Agenda for Jobs II (2022–2025)

Ghana Makes Bold Strides: NDPC Unveils 2024 National Progress Report on Agenda for Jobs II

October 14, 2025
Subscription Form
The Vaultz News

Copyright © 2025 The Vaultz News. All rights reserved.

Navigate Site

  • About
  • Advertise
  • Privacy Policy
  • Contact

Follow Us

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • Top Stories
  • News
    • General News
    • Education
    • Health
    • Opinions
  • Economics
    • Economy
    • Finance
      • Banking
      • Insurance
      • Pension
    • Securities/Markets
  • Business
    • Agribusiness
    • Vaultz Business
    • Extractives/Energy
    • Real Estate
  • World
    • Africa
    • America
    • Europe
    • UK
    • USA
    • Asia
    • Around the Globe
  • Innovation
    • Technology
    • Wheels
  • Entertainment
  • 20MOBPL2D
  • Jobs & Scholarships
    • Job Vacancies
    • Scholarships

Copyright © 2025 The Vaultz News. All rights reserved.