Former US President Donald Trump’s company and its finance chief are charged with tax-related crimes.
Allen Weisselberg, 73, turned himself in to ny authorities on Thursday. He was later charged with concealing $1.7m (£1.2m) worth of income.
Prosecutors say the 15-year-long scheme helped executives evade taxes by giving benefits, like rent and faculty fees, that were hidden from the authorities.
Lawyers for the firm and Mr Weisselberg have pleaded acquitted to tax fraud.
No charges were brought against Mr Trump personally, though prosecutors said the previous president had signed a number of the cheques at the centre of the case.
The Trump Organization may be a family company that owns hotels, golf clubs and other properties – and therefore the cornerstone of a worldwide brand that encompassed book deals, TV shows and Trump-emblazoned skyscrapers.
The criminal charges are the primary to arise from long-running investigations into alleged fraud by both the Manhattan DA and therefore the state’s attorney general.
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The inquiry by DA Cyrus Vance focused on whether Mr Weisselberg and other company executives received benefits like apartment rentals or leased cars without reporting them properly on their tax returns.
The charges announced on Thursday include tax fraud and falsifying business records.
At the hearing at Manhattan’s court , prosecutor Carey Dunne said this was a “sweeping and audacious” scheme involving “off-the-books payments”.
“It was orchestrated by the foremost senior executives who were financially benefiting themselves and therefore the company, by getting secret pay raises at the expense of state and federal taxpayers,” he said.
Mr Weisselberg “is prepared to fight these charges in court,” his lawyers said.
‘Not about politics’
Mr Trump and his allies have said the investigations are politically motivated. The indictment was served as Mr Trump has been discussing a possible comeback run president in 2024.
The ex-president issued a press release slamming the announcement: “The political witch hunt by the novel left Democrats, with ny now taking up the assignment, continues.
“It is dividing our country like never before,” he said.
Earlier on Thursday, the Trump Organization said Mr Vance was using Mr Weisselberg, who has worked for Trump’s business for nearly 50 years, “as a pawn during a scorched earth plan to harm the previous president”.
“This isn’t justice; this is often politics,” the corporate said.
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However, during the court proceedings, prosecutor Carey Dunne said: “To address what this case isn’t about: it isn’t about politics.
“This investigation, which is ongoing, has been thorough, careful and proper, and has been limited to topics within our ny jurisdiction.”
If the corporate is found guilty, however, certain business partners might draw a line under their relationship with the Trump Organization and therefore the company could face fines.
New York City, for instance , has already announced it’ll terminate contracts with the firm to run skating rinks, a carousel and a golf links , within the aftermath of the US Capitol riots.
Daniel Goldman, who was lead lawyer within the United States House of Representatives of Representatives for the primary 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 also will take under consideration eight years of Mr Trump’s personal and company tax returns, obtained by prosecutors after an extended legal battle, which led to the Supreme Court in February.
Mr Trump, who inherited money from his father and went on to become a property developer, is that the first president since Ford within the 1970s to not have made his tax returns public.
Despite facing variety of investigations, the previous president has denied any wrongdoing personally or in his business.
New York City has already cut business ties with the twice-impeached former president.
