Trump’s company fined $1.6 million for tax fraud

Washington: A New York judge on Friday fined the Trump Organization $1.6 million for tax fraud.

The Trump Organization is former US President Donald Trump’s company, which unlike him, is based in New York. It was held guilty earlier on 17 counts of tax fraud spanning years.

The fine is a symbolic slap on the writs for the former President and self-proclaimed billionaire who has announced a third run for the White House and it is likely to be used by his opponents – first in the Republican primaries and then in the general election – to question his character and integrity, which, it must be noted, had withstood several knocks before.

“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,” said Manhattan District Attorney Alvin Bragg, who prosecuted the case.

A key witness in the case was Allen Weisselberg, the company’s long-serving chief financial officer. Though he cooperated with the prosecutors he did not implicate the former President or his two adult sons Donald Trump Jr and Eric Trump, who have run the organisation after their father was elected President.

Weisselberg pleaded guilty all 15 charges brought against him and he was sent to jail for five months on Tuesday and fined $2 million. He accepted his role in conspiring with the company to evade taxes due from him by a luxury apartment rented for him him by the company and expensive cars and fees for his grandchildren at an expensive private school.

Former President Trump is personally facing several cases around the country, including one in Georgia state for trying to overturn the outcome of the 2020 presidential election. He is also being investigated for wrongly carting off to his personal property in Florida officials papers from the White House, including many that were marked confidential.

Chennai-based Pharma company recalls eye drops from US market after 55 adverse cases

Chennai : A Chennai-based company has recalled its eye drops from the US market after a US government agency has informed the company that several adverse events had taken place,...

Pakistani rupee continues speedy crash against USD, suffers another big fall

Islamabad : The Pakistani rupee (PKR) has continued a speedy crash against the US dollar with another big fall as the greenback was traded at a record high price of...

Punjab Cabinet approves electric vehicle policy

Chandigarh, Feb 3 (IANS) The Punjab Cabinet on Friday accorded approval to Electric Vehicle Policy 2022 with a move to check the vehicular pollution. A decision to this effect was...

China imposes communications crackdown on Tibetans

New Delhi:  China has tightened restrictions on Tibetan residents of a county in Sichuan province that has been a hotbed of resistance to Chinese rule, imposing measures to prevent contact...

Bill Gates makes roti with chef Eitan Bernath, enjoys it with ghee

San Francisco : Microsoft co-founder Bill Gates made roti along with celebrity chef Eitan Bernath, who recently returned from a trip to Bihar, and ate it with ghee. A video...

Israel, Sudan to sign deal to normalize ties: FM

Jerusalem:  Following his return from a "historic" visit to Khartoum, Israeli Foreign Minister Eli Cohen announced here that his country and Sudan have agreed to normalize ties and sign a...

Sacred rocks from Nepal to build Ram statue in Ayodhya handed over

Kathmandu/Ayodhya: Two 'sacred rocks' excavated from the Kaligandaki River of Nepal to build a statue of Lord Ram in Ayodhya was handed to the Ram Mandir Trust on Thursday. At a...

Sharmila dares KCR to walk for a day with her

Hyderabad : YSR Telangana Party president Y. S. Sharmila on Thursday dared Chief Minister K. Chandrasekhar Rao to walk along with her for just three kilometres to know the plight...

BJP, RSS use some as hooligans: Tejashwi

Patna : Deputy Chief Minister Tejashwi Yadav has attacked the BJP and RSS and said that they are "putting dog collars on the necks of some people and are asking...

N.Korea warns of ‘toughest reaction’ to US military drills with S.Korea

Seoul: North Korea said on Thursday it will take the "toughest reaction" to the US' move to expand joint military exercises with South Korea. The North's warning came US Defense...

Adani Enterprises calls off Rs 20K cr FPO, to return money to investors

  New Delhi: Hours after its shares crashed at the bourses, the Adani Group on Wednesday evening decided to call off its Rs 20,000 crore follow-on public offer (FPO), saying...

Jayapal named to top post in US Immigration subcommittee

New York:  Indian-American Congresswoman Pramila Jayapal has been named Ranking Member of the US House Judiciary Committee's panel on Immigration, making her the first immigrant to serve in a leadership...

Read Previous

LG recalling 56,700 Smart TVs over serious tip over, entrapment risks

Read Next

CCI order strikes a blow to accelerating digital adoption in India: Google

Leave a Reply

Your email address will not be published.

WP2Social Auto Publish Powered By :