Jury reaches verdict in Trump Organization tax fraud trial

The jury's foreperson was expected to read out the verdict shortly in New York state court in Manhattan. Former U.S. President Donald Trump's company stands accused of carrying out a 15-year-long criminal scheme to defraud tax authorities. Defense lawyers argued that Weisselberg carried out the scheme to benefit himself. The Trump Organization separately faces a fraud lawsuit brought by New York state Attorney General Letitia James.

Jurors in the Trump Organization's criminal tax fraud trial have reached a verdict, the judge said on Tuesday. The jury's foreperson was expected to read out the verdict shortly in New York state court in Manhattan.

Former U.S. President Donald Trump's company stands accused of carrying out a 15-year-long criminal scheme to defraud tax authorities. The scheme included paying personal expenses like free rent and car leases for top executives including former Chief Financial Officer Allen Weisselberg without reporting the income, and paying them bonuses as if they were independent contractors, prosecutors said. The Trump Organization - which operates hotels, golf courses and other real estate around the world - has pleaded not guilty.

Trump, a Republican, has not been personally charged in the case but has called the prosecution politically motivated. Both Manhattan District Attorney Alvin Bragg and the former DA who brought the charges, Cyrus Vance, are Democrats. If convicted, the company faces up to $1.76 million in fines, though the exact amount would be determined by the judge in the case at a later date. While the fine is not expected to be material for a company of the Trump Organization's size, a criminal conviction could complicate its ability to do business by spooking lenders and partners.

Prosecutors said the company saved on salaries and payroll taxes. Weisselberg, 75, testified as the government's star witness as part of a plea deal with prosecutors that will allow him to spend no more than five months in jail. Defense lawyers argued that Weisselberg carried out the scheme to benefit himself.

The Trump Organization separately faces a fraud lawsuit brought by New York state Attorney General Letitia James. Trump himself is being investigated by the U.S. Department of Justice over his handling of sensitive government documents after he left office in January 2021 and attempts to overturn the November 2020 election, which he lost to Democrat Joe Biden.

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