The Trump Organization, lead by former US President Donald Trump’s children, and its chief financial officer (CFO), Allen Weisselberg, were on Wednesday indicted in connection with a tax investigation into fringe benefits handed out at the company.
The specific charges against the company by the Manhattan district attorney’s office are expected to be revealed later on Thursday after Weisselberg and his lawyers appear in court, The New York Times reported. This indictment would be the first criminal charge against the Trump Organization.
The former US President himself isn’t expected to face any charges, The Wall Street Journal quoted his lawyer as saying.
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Weisselberg has rejected the prosecutors’ attempts at gaining his cooperation, The Wall Street Journal reported. Trump’s lawyers tried to persuade prosecutors not to charge the Trump Organization in recent virtual meetings. They argued that charging a company over fringe benefits or employee compensation was unheard of.
The investigation could lead to a further narrative of whether the Trump Organization and its officers overvalued and undervalued its assets on loan, tax and insurance documents for financial gain, The Wall Street Journal said.
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The probe is led by the Manhattan district attorney Cyrus R Vance Jr, who is conducting inquiries into Trump and his businesses, along with New York attorney general Letitia James.
Donald Trump, denying wrongdoing, said that the investigations are politically motivated and are being led by the Democrats. Weisselberg has not issued a statement yet.
According to USA Today, Manhattan District Attorney Cyrus Vance has been digging deep into the operations of the Trump family business for over two years.
He has been looking for possible fraud involving banks, insurance companies and taxing entities. New York Attorney General Letitia James announced the parallel civil inquiry had escalated to a criminal probe and state authorities had participated in the investigation.
