Trump Organization indicted in tax investigation, US media report ad-content'/> Skip to main content

Body

Hi

 Hello word
1 comment

Trump Organization indicted in tax investigation, US media report

 

Trump Organization indicted in tax investigation, US media report

Former President Donald Trump, his son Donald Trump Jr. and Allen WeisselbergIMAGE COPYRIGHTGETTY IMAGES
image captionAllen Weisselberg (centre) is chief financial officer of the Trump Organization

Former US President Donald Trump's company and its finance chief have been indicted in an investigation into alleged tax crimes, US media report.

The specific charges against the company and Allen Weisselberg, 73, are still unclear. They are expected to be made public on Thursday.

Mr Trump is not expected to be implicated personally in the case.

New York City has already cut business ties with the twice-impeached former president.

The Trump Organization is a family holding company that owns hotels, golf clubs and other properties.

Any criminal charges brought against it would mark the first in long-running investigations on alleged fraud by both the Manhattan district attorney and the state attorney general.

Charges by District Attorney Cyrus Vance are expected to focus on whether Mr Weisselberg and other company executives received benefits such as apartment rentals or leased cars without reporting them properly on their tax returns.

Mr Weisselberg and lawyers for the Trump Organization are expected to make their first court appearance on Thursday, according to the New York Times, Wall Street Journal and Associated Press, which quote unnamed sources.

Mr Trump and his allies have said the investigations are politically motivated.

In a statement earlier this week, Mr Weisselberg said the case was looking at "things that are standard practice throughout the US business community, and in no way a crime".

If the company is found guilty, however, certain business partners might draw a line under their relationship with the Trump Organization and the company could face fines.

New York City, for example, has already announced it will terminate contracts with the firm to run skating rinks, a carousel and a golf course, in the aftermath of the US Capitol riots.

media captionA flashback through four turbulent years of Trump

Daniel Goldman, who was lead lawyer in the US House of Representatives for the first impeachment of Mr Trump in 2019, tweeted that the indictment could spur lenders to call in their loans, driving the Trump Organization to bankruptcy.

The investigations will also take into account eight years of Mr Trump's personal and corporate tax returns, obtained by prosecutors after a long legal battle, which ended in the Supreme Court in February.

Mr Trump, who inherited money from his father and went on to become a property developer, is the first president since Gerald Ford in the 1970s not to have made his tax returns public.

Despite facing a number of investigations, the former president has denied any wrongdoing personally or in his business.

Representatives for the Trump Organization, Donald Trump and Allen Weisselberg did not immediately respond to the BBC's request for comment.

Comments

Post a Comment

Your comment is important

Popular posts from this blog

Senate considers new bill assigning NIPOST stamp duty collection

  Senate considers new bill assigning NIPOST stamp duty collection The Nigerian Senate. The Senate Committee on Communications on Monday held a public hearing on two bills. One of the proposed legislation, among others, empowers the Nigerian Postal Service to collect stamp duty for the Federal Government. NIPOST and Federal Internal Revenue Service had been having issues over which of the government’s agencies is constitutionally empowered to collect stamp duty in the country. The bills are the Nigerian Postal Service Act (Repeal and Establishment) Bill, 2021; and the Nationwide Toll-Free Emergency number (Establishment) Bill, 2021. The Post Master General of the Federation, Dr Ismail Adewusi, urged the National Assembly to expedite work on the bill, saying the present Act was obsolete and inadequate in view of the rapid developments and changes in the industry. He said passing the bill into law would not only bring the country at par with other countries which had reformed their p...
Post a Comment
Load more »

Story Of Late CAC Founder, Apostle Ayo Babalola From The Book That Reveals His Life!; Why They Call Him Olorun 1930

  Story Of Late CAC Founder, Apostle Ayo Babalola From The Book That Reveals His Life!; Why They Call Him Olorun 1930 Though he died several decades ago many CAC members still pray with his name. Whenever they pray they add Olorun Joseph Ayo Babalola. That is how much he is reverred by CAC adherents.  This is one of the things that got us curious in City People about the Life and Times of this great man of God this is because late Apostle Ayo Babalola is one of the greatest men of God that ever tread the face of this earth. He is the founder of Christ Apostolic Church (CAC). He was born on the 25th of April 1904 at Odo-Owa,Ilofa, in present day Ekiti Local Government areas of Kwara State, Nigeria to the family of late Pa David Lawani Rotimi and Madam Martha Talabi Rotimi. His father was a devout Christian and was also the founded CMS church at Ilofa/Odo-Owa, the Church was in sixteen other towns then. Babalola was brought up as an Anglican.  He was brought to Lagos by his...
Post a Comment
Load more »

Kanu’s arrest: ACF demands caution, Archbishop alleges woman trapped IPOB leader

  Kanu’s arrest: ACF demands caution, Archbishop alleges woman trapped IPOB leader Nnamdi Kanu in handcuffs THE arrest of  Nnamdi Kanu , the leader of the Indigenous People of Biafra by the Federal Government has attracted mixed reactions from various groups, including the Arewa Consultative Forum, who urged the Federal Government to be cautious in handle the IPOB leader’s issue. The reactions came just as the British government said Kanu was not arrested in the United Kingdom or extradited from England. Also, the Federal High Court sitting in Abuja on Tuesday ordered that the leader of the Indigenous People of Biafra,  Nnamdi Kanu , be remanded in the detention of the Department of State Service. Justice Binta Nyako gave the order while granting the application by the prosecution. The counsel for the prosecution, S. M. Labaran, applied to the court to remand Kanu in custody. Labaran also applied that the trial of Kanu that was earlier slated for October 20 be brought for...
Post a Comment
Load more »