Prosecutors claim Trump firms operated scheme to allow top executives evade tax

  • 📰 IrishTimes
  • ⏱ Reading Time:
  • 42 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 20%
  • Publisher: 98%

Education Education Headlines News

Education Education Latest News,Education Education Headlines

Senior figure received off-the-books benefits including rent on apartment, a Mercedes car and private school fees for family members, jury hears

Prosecutor Susan Hoffinger leaves the courtroom in New York after opening statements by lawyers for the Trump Organisation in the company's criminal trial. Photograph: Michael M Santiago/Getty ImagesCompanies owned by former US president Donald Trump and his family operated a scheme allowing top executives to evade tax by providing them with expensive off-the-books benefits over a 15-year period, prosecutors in New York have alleged.

It is claimed that one senior company executive, long-time chief financial officer Allen Weisselberg, received $1.76 million in perks including rent on an apartment in New York’s Upper West Side, a leased Mercedes car and private school tuition for his grandchildren. Prosecutor Susan Hoffinger told a jury on Monday that the case was “about greed and cheating”. Mr Trump has not been charged in relation to the current case, nor have any of his family. However, his name was mentioned prominently in the proceedings and his relations could be called as witnesses in the case.

Ms Hoffinger said that by 2008, Mr Weisselberg was making more than $1 million dollars a year, but that his full compensation was already being hidden. She said he received about $200,000 of his income a year through invisible benefits.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Still no mention of Hunter Bidens laptop. I wonder why

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 3. in EDUCATİON

Education Education Latest News, Education Education Headlines