Trump Organization Fined $1.6 Million for Illegally Reducing Payroll Liability

A judge in New York City has imposed a fine of $1.6 million on the Trump Corporation and Trump Payroll Corporation for illegally reducing payroll liability. The fine is the maximum allowed by law and is 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.

The sentencing was the result of a conviction last month for 17 tax crimes, including conspiracy and falsifying business records. Manhattan District Attorney Alvin Bragg said the sentencing “closes this important chapter of our ongoing investigation into the former president and his [organization].”

Bragg said the fine was a “symbolic, hardly crippling blow for an enterprise boasting billions of dollars in assets.” He added that he would like state law to change to allow higher fines for companies that commit “this type of decade-plus systemic, egregious fraud.”

Former President Donald Trump was not personally charged in the case and has denied any knowledge of the scheme, but Bragg has said Trump remains under investigation. Trump himself was not on trial and denied any knowledge of his executives evading taxes illegally.

The sentencing serves as a reminder of the importance of paying taxes and following the law. It also serves as a warning to other companies that may be tempted to engage in similar activities. The Trump Organization has been held accountable for its actions and must now pay the consequences.