What’s Subsequent For The Trump Group After Tax Crimes Cost : NPR

Felony costs in opposition to the Trump Group and its very long time Chief Monetary Officer increase questions in regards to the future dealings of the corporate.



NOEL KING, HOST:

Former President Trump’s enterprise and his longtime chief monetary officer Allen Weisselberg are accused of tax fraud. Prosecutors in New York Metropolis unsealed a 15-count indictment yesterday. They are saying The Trump Group engaged in a 15-year scheme to keep away from paying a whole bunch of 1000’s of {dollars} in taxes. Reporter Andrea Bernstein has been masking this story for NPR and was within the courtroom yesterday. Good morning, Andrea.

ANDREA BERNSTEIN, BYLINE: Good morning, Noel.

KING: Donald Trump himself was not charged on this indictment. However that is his household’s firm. What was his alleged involvement?

BERNSTEIN: So that you see traces of Donald Trump all via the indictment. He personally signed a examine, in accordance with the indictment, to his chief monetary officer Allen Weisselberg’s grandchildren’s faculty’s tuition. He signed a lease for an residence that Weisselberg allegedly used to keep away from paying taxes.

However greater than that, what’s laid out is that this protracted legal scheme that was purportedly carried out by senior executives in The Trump Group. That is the corporate that bears his identify. Donald Trump was so linked to the corporate that he refused to divest himself when he was president. So what we see is that this scheme was allegedly carried out to cheat the very authorities that he was accountable for whereas president. I wish to be clear. Trump has all the time denied wrongdoing. He has not been charged. And each his firm and chief monetary officer have pleaded not responsible.

KING: What else did you study on the arraignment in regards to the allegations?

BERNSTEIN: So the scheme was allegedly broad in scope. There have been Mercedes-Benz leases that had been allegedly paid by the corporate that had been for Weisselberg’s private use, the tutoring I discussed, vacation leisure – which had been checks for money allegedly paid again to Weisselberg that he would get bonuses from different Trump corporations, like Mar-a-Lago, that he referred to as himself an impartial marketing consultant when he wasn’t. And likewise, there have been these very cautious information allegedly saved which confirmed this scheme, which confirmed how he had a complete compensation. And every of these items that had been alleged tax dodges had been set in opposition to that to offset the compensation.

KING: All proper. So in the end, what implications might these costs have for Allen Weisselberg and for Trump’s enterprise?

BERNSTEIN: Effectively, on the one hand, Weisselberg, who has been an worker of the corporate for nearly 50 years, entered court docket yesterday in handcuffs. It was a really dramatic second. However he left. He didn’t should pay any bail. He might return to work. He might be there at present up in Trump Tower, which is a far cry from the type of shoddy legal courthouse in New York.

However issues get sophisticated when an organization and its chief monetary officer are charged with crimes. There will be issues getting financing, financial institution loans. There will be issues with current loans. It’s a must to attest as an organization that you simply’re not mendacity, and now this firm is charged with a 15-year scheme of mendacity. So whereas Trump’s enterprise has suffered reputational injury – for instance, after the Capitol riots – this brings it to a brand new stage, being really charged with severe crimes in New York.

KING: Now, we all know that the Manhattan district lawyer went to the Supreme Courtroom twice to attempt to get Trump’s tax returns, employed a group of prosecutors and forensic accountants, went via tens of millions of pages of paperwork. The place does the investigation go from right here?

BERNSTEIN: So yesterday, each the lawyer normal of New York, Letitia James, who has a separate civil swimsuit, and the DA sat in entrance of the courtroom however then mentioned nothing afterwards. They pointedly mentioned the investigation is ongoing. In court docket, prosecutors sought a protecting order to maintain proof from disclosure to different folks they may be investigating – different executives, the previous president or his household. And the final rely of the indictment factors curiously to a relationship between Allen Weisselberg and Donald Trump, that Weisselberg had an entry deleted in Donald Trump’s ledger. That may be a very sturdy trace that the DA’s workplace continues to be digging into the connection, and there is extra to return.

KING: Reporter Andrea Bernstein, thanks in your reporting. We recognize it.

BERNSTEIN: Nice to speak to you.

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https://www.npr.org/2021/07/02/1012458898/whats-next-for-the-trump-organization-after-tax-crimes-charge