Tag: Trump organization kept 2 sets of books

Prosecutors say spreadsheets from Trump Organization offer a road map for its indictment. Where the investigation goes now is the question.

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In prosecutors’ telling, the Trump Organization provided a road map for its own indictment.

In documents filed in the New York Supreme Court last week, prosecutors claimed that the company had spent 15 years paying its chief financial officer “off the books,” giving him cars, an apartment, tuition payments and cash that were hidden from income tax authorities.

But at the same time, according to allegations included in the indictment, the Trump Organization also was keeping internal spreadsheets that tallied the payments that were being hidden. Continue reading.

Prosecutors allege a 15-year tax fraud scheme as the Trump Organization and CFO Allen Weisselberg are arraigned on multiple criminal charges

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NEW YORK — Prosecutors charged former president Donald Trump’s business with a 15-year “scheme to defraud” the government and charged its chief financial officer with grand larceny and tax fraud in a Manhattan courtroom Thursday, describing what they said was a wide-ranging effort to hide income from tax authorities.

In charging papers, prosecutors alleged that the Trump Organization effectively kept two sets of books. In one — for internal use — it carefully tallied the value of benefits given to executives as part of their compensation: apartments, cars, furniture, tuition payments, even money for holiday gifts.

But in the documents that the Trump Organization sent to tax authorities, prosecutors said, those benefits were omitted. Prosecutors said the result was that the Trump Organization and its executives avoided taxes on their full compensation: CFO Allen Weisselberg, they said, avoided paying more than $900,000. Continue reading.