The panel’s decision was announced in New York’s Supreme Court on Tuesday, the second day of jury deliberations. The Trump Organization could be required to pay up to $1.6 million in fines, a relatively small amount considering the size of the companies.
The Manhattan district attorney’s office alleged the company engaged in a 15-year tax fraud scheme, with executives reaping off-the-books compensation in the form of gifts to help them avoid paying income tax.
New York prosecutors spent three years investigating Trump and his companies, according to the AP. Prosecutor Joshua Steinglass told jurors on Thursday that Trump “knew exactly what was going on” with his company’s fraud.
The prosecution relied on the testimony of Allen Weisselberg, the former chief financial officer who had worked for the Trump company since 1973.
Weisselberg pleaded guilty to the 15 counts he was charged with — including conspiracy, grand larceny, criminal tax fraud and falsifying business records — in a deal with prosecutors. He admitted to avoiding taxes on about $1.7 million.
The prosecution described Weisselberg as a “high managerial agent” for the company and said the Trump Organization stood to benefit from his lawbreaking.
The defense claimed Weisselberg’s actions benefited himself, not the company, and claimed the Trump Organization is innocent of wrongdoing, according to The Associated Press.
“We are here today for one reason and one reason only: the greed of Allen Weisselberg,” Susan Necheles, a lawyer for the Trump Organization, said Thursday.
Trump recently launched his 2024 presidential bid, despite ongoing criminal probes.