No Result
View All Result
Sunday, July 20, 2025
MM News
اردو
  • Home
  • Latest News
  • National
  • Dramas
  • Showbiz
    file photo

    Shah Rukh Khan suffers injury on Set of upcoming film King

    Saiyaara

    Will Ahaan Panday’s ‘Saiyaara’ have an OTT release?

    Sumbal Malik

    Leaked video of TikToker Sumbal Malik sparks uproar on social media

    Nikita Roy

    Is Sonakshi Sinha’s ‘Nikita Roy’ based on a true story?

    Kareena Kapoor

    Kareena Kapoor to romance much younger co-star in bold new role

    Zareen Khan

    Zareen Khan hits back at trolls over viral video with Katrina Kaif

  • Thought Box
  • Business
  • Opinions
  • Technology
  • The Other Side
MM News
  • Home
  • Latest News
  • National
  • Dramas
  • Showbiz
    file photo

    Shah Rukh Khan suffers injury on Set of upcoming film King

    Saiyaara

    Will Ahaan Panday’s ‘Saiyaara’ have an OTT release?

    Sumbal Malik

    Leaked video of TikToker Sumbal Malik sparks uproar on social media

    Nikita Roy

    Is Sonakshi Sinha’s ‘Nikita Roy’ based on a true story?

    Kareena Kapoor

    Kareena Kapoor to romance much younger co-star in bold new role

    Zareen Khan

    Zareen Khan hits back at trolls over viral video with Katrina Kaif

  • Thought Box
  • Business
  • Opinions
  • Technology
  • The Other Side
No Result
View All Result
No Result
View All Result
MM News
اردو
  • Latest
  • Thought Box
  • Showbiz
  • Business & Stock
  • Opinions
  • Technology
  • The Other Side-Pakistan
Home World

Trump Organization, CFO charged in 15-year tax fraud

MM News Staff by MM News Staff
July 2, 2021
Former US President Trump himself has not been charged. Source: Boston Globe

Former US President Trump himself has not been charged. Source: Boston Globe

NEW YORK: Donald Trump’s namesake company and longtime financial chief pleaded not guilty to what a New York prosecutor called a “sweeping and audacious” tax fraud, arising from a probe into the former US president’s business and its practices.

The indictment against the Trump Organization and its chief financial officer Allen Weisselberg is the first in a nearly three-year investigation by Manhattan District Attorney Cyrus Vance, which New York Attorney General Letitia James joined in May.

It could undermine the Trump Organization’s relationships with banks and business partners, and complicate Trump’s political future as he resumes addressing rallies and mulls a 2024 White House run.

Trump himself has not been charged, and renewed his claim that the probe was a political “witch hunt.”  Prosecutors accused the Trump Organization and Weisselberg of having since 2005 defrauded tax authorities by awarding “off the books” benefits to company executives.

Weisselberg, 73, was charged with concealing $1.76 million of income, including rent for a Manhattan apartment, lease payments for two Mercedes-Benz vehicles and tuition for family members, with Trump signing checks for the tuition himself.

Prosecutors said this enabled Weisselberg, who has worked for Trump for about 48 years, to evade roughly $900,000 in taxes and collect $133,000 in refunds he did not deserve.

“To put it bluntly, this was a sweeping and audacious illegal payments scheme,” Assistant District Attorney Carey Dunne said at the defendants’ arraignment in Manhattan Criminal Court. “This is not a standard practice in the business community, nor was it the act of a rogue or isolated employee.”

READ MORE: New York prosecutors finally obtain Trump’s tax records

The 15-count indictment charged the defendants with scheming to defraud, tax fraud and falsifying business records. Weisselberg was also charged with grand larceny, which carries a maximum 15-year prison term. The Trump Organization could face fines and other penalties if convicted.

The charges could increase pressure on Weisselberg to cooperate with prosecutors, which could be crucial to any future case against the former president.

In a statement, Trump said: “The political Witch Hunt by the Radical Left Democrats, with New York now taking over the assignment, continues. It is dividing our Country like never before!”

Vance and James attended the arraignment. “This investigation will continue, and we will follow the facts and the law wherever they may lead,” James, who had been conducting a related civil probe, said in a statement.

In a separate statement, the Trump Organization accused Vance of using Weisselberg as “a pawn in a scorched earth attempt to harm the former president. This is not justice; this is politics,” the company said.

Trump’s company operates hotels, golf courses, and resorts around the world. Before entering the White House in January 2017, Trump put the organization into a trust overseen by his sons Donald Jr and Eric, as well as Weisselberg.

Vance’s probe got a boost in February when he obtained eight years of Trump’s tax returns. Trump had spent 18 months, including two trips to the US Supreme Court, to keep Vance from seeing them.

Vance has been examining an array of potential wrongdoing, including whether the Trump Organization manipulated the value of its real estate to reduce taxes and secure favorable loan terms. Vance has been district attorney for 11-1/2 years. He leaves office at the end of the year.

Tags: cfotax fraudTrumpTrump Organization
ShareTweetSendShare
Previous Post

China’s new world

Next Post

Ghana Ali’s ‘If you can make me a plumber, I can make you a baby’ post with husband is adorable

Related Stories

Narendra Modi
Top News

Why is Modi government afraid of Bangladeshi transgender? Facts revealed

July 20, 2025
Image: Online
World

Saudi ‘Sleeping Prince’ Alwaleed passes away after 20-year in coma

July 20, 2025
Image: Online
World

US tech CEO Andy Byron resigns after viral video controversy

July 20, 2025
Iranian media photo
World

Trump insists Iran nuclear sites destroyed amid reports some survived

July 19, 2025
Onlne
World

28 injured as car rams Los Angeles crowd

July 19, 2025
Hindu Extremists
Top News

Video: Hindu extremists attack US food chain restaurants in India over meat sales

July 19, 2025
Trump
National

Trump confirms 5 Indian fighter jets downed during India-Pakistan conflict

July 19, 2025
File photo
Top News

Taliban court sentences Afghan teacher to death for blasphemy

July 18, 2025
An area where an explosion took place at a Los Angeles County Sheriff's Department's Biscailuz Center Academy Training facility is sealed off in east Los Angeles, California, U.S. July 18, 2025 in a still image from video. ABC Affiliate KABC via REUTERS
World

3 deputies killed in explosion at police training facility in Los Angeles

July 18, 2025
Colonel Kumar claimed that his wife was raped in the family ward of a military hospital by generals and brigadiers, and that video evidence of the incident exists. (Screengrab X/@ColAmitkumar)
World

Indian Army colonel accuses senior officers of raping his wife

July 18, 2025
Next Post
Ghana Ali's 'If you can make me plumber, I can make you a baby' post with husband his adorable

Ghana Ali's 'If you can make me a plumber, I can make you a baby' post with husband is adorable

Trending Stories

Young Woman
Crime

Burned by her husband, young Karachi woman loses battle for life

by MM News Staff
July 20, 2025
file photo
Top News

Spillways opened as Rawal Dam water level rises after heavy rains

by MM News Staff
July 20, 2025
Image: Online
Fashion & Music

Chahat Fateh Ali Khan drops disco hit with Sonia Chauhan

by MM News Staff
July 20, 2025
Killed by cousin
Crime

Girl killed by cousin in Jhang after marriage proposal rejected

by MM News Staff
July 20, 2025
Image:  Online
Sports

WCL Pak-India match cancelled as India objects to Shahid Afridi’s presence

by MM News Staff
July 20, 2025

Opinion

nadeem moulvi
From Sects to Sunnah
July 15, 2025
- Nadeem Moulvi
Munir-Ahmed
Portugal and Pakistan: Building a Bilateral Bridge in a Fractured World
June 29, 2025
- Munir Ahmed
munir ahmed oped
A Peace Prize for Betrayals: Rethinking Pakistan’s Strategic Alliances
June 28, 2025
- Munir Ahmed
No posts found
See all

Weather Updates

Rain
Top News

Early morning rain brings relief to Karachi’s heat-stricken residents

by MM News Staff
July 20, 2025

It rained early this morning in various areas of Karachi, breaking the intensity of...

Rains

Rain, thunderstorm predicted in Karachi tonight

July 18, 2025
Rawal Dam

Monsoon rains cause significant increase in Rawal Dam water level

July 18, 2025
heavy rains pakistan

More rain on the way for Rawalpindi, Islamabad and other cities

July 18, 2025
See all

Prices

representative image
Business & Stock

Gold prices in Pakistan today- Sunday 20 July 2025

by MM News Staff
July 20, 2025

The following are the current gold rates in Pakistan as of Sunday, July 20,...

Chines companies set to introduce electric motorcycles in Pakistan

Motorcycle prices surge in Pakistan following new tax Imposed in budget

July 19, 2025
file photo

Chicken prices decline in different cities of Pakistan

July 19, 2025
NEPRA

NEPRA approves K-Electric’s multi-year tariff despite federal objections

July 19, 2025
See all

Transport News

Karachi to Keenjhar
National

Karachi to Keenjhar picnic turns fatal: 6 killed in Thatta bus accident

by MM News Staff
July 20, 2025

A bus from Karachi heading to Keenjhar Lake for a picnic met with an...

File photo

Pakistan extends airspace ban on Indian flights

July 19, 2025
File photo

Civil society urges Punjab CM to scrap Yellow Line Metro Train

July 19, 2025
File photo

Punjab secures 400 EV buses

July 18, 2025
See all

MM Digital (Pvt.) Ltd.

MM News is a subsidiary of the MM Group of Companies. It was established in 2019 with the aim of providing people of Pakistan access to unbiased information. Contact Details: 03200201537

Quick Links

  • Home
  • Advertise
  • MM News Urdu
  • The Other Side-Pakistan
  • Contact Us
  • Privacy Policy

Top Pages

  • Latest News
  • Showbiz
  • OP-ED
  • Technology
No Result
View All Result
  • Latest News
  • Showbiz
  • Thought Box
  • Business
  • Opinions
  • Technology

© Copyright 2024 MMNews - All Rights Reserved.