Former US President Donald Trump's business corporation, The Trump Organisation, was charged with tax fraud and falsifying business records on 1 July, Thursday, by the Manhattan district attorney's office.
According to a BBC report, the real estate company was booked for running a 15-year scheme that helped its employees evade taxes by providing them with benefits such as rent and school fees, knowledge of which was kept from the authorities.
Carey Dunne, representing the Manhattan district attorney, described the scheme as a deliberate ploy instituted by the senior executives of the firm to underreport their income, as the benefits provided to the employees reportedly did not find mention on tax papers.
“To put it bluntly, this was a sweeping and audacious illegal payments scheme,” Dunne said during an arraignment in Manhattan State Supreme Court, New York Times reported.
Allen Weisselberg, the long-running Chief Financial Officer of the company and Trump's aide, has additionally been charged with the evasion of taxes on an amount $1.7 million which he received in perks, and did not report as income.
The indictment indicated that the perks provided to the CFO were not mentioned in tax documents, but were recorded in an internal spreadsheet.
The top executive has been booked under grand larceny and tax fraud among other charges.
No other company executive, including Trump, has been mentioned by named in the indictment.
What Trump Said
In an interview with NYT, former president Donald Trump asserted that the accusations levelled against his company and its CFO were a 'continuation of the witch hunt that started when I came down the escalator', alluding to the event when he first announced his presidential campaign in 2015.
When questioned about the charges against Weisselberg, Trump confirmed his trust in the CFO, calling him an 'honourable man'.
“I’m with him all the way,” the real estate tycoon added.
The American politician had previously courted controversy when he had endorsed the attack on the US capitol following his descent from the president's seat.
The American politician had previously courted controversy when he had endorsed the attack on the US capitol following his descent from the president's seat. He had faced impeachment for his refusal to step down from his position while alleging fraud against the election results, and for inciting the insurrection at the US capitol.
Before that, the former president had been investigated in relation to allegations of collusion with Russia for his presidential campaign, and was also probed in a case of pressing a Ukrainian investigation against his Democratic rival, Joe Biden.
(With inputs from The New York Times and BBC)