The Trump Organization, owned by former President Donald Trump, was found guilty on Tuesday in the New York Supreme Court on 17 counts of tax fraud and other related charges due to the actions of two of the company's former executives.
The Trump Corporation and the Trump Payroll Corp were the entities on trial, and were convicted of conspiracy, scheme to defraud, criminal tax fraud, and falsifying business records.
Trump Organization lawyer Alan Futerfas said that the company would appeal the decision, which also includes the possibility of a $1.6 million fine, according to Reuters.
New York Attorney General Letitia James (D) gleefully said following the ruling, there's "no tolerance for individuals or organizations that violate our laws to line their pockets."
"I commend Manhattan District Attorney Alvin Bragg and his team for their successful prosecution of the Trump Organization, and I was proud to assist in this important case. This verdict sends a clear message that no one, and no organization, is above our laws," James added.
Longtime chief financial officer, Allan Weisselberg had a 15-year sentence for tax fraud, grand larceny,and conspiracy reduced to five months; and company comptroller, Jeffrey McConney was given immunity on similar charges for their testimony against the Trump Organization.
Weisselberg admitted to using various methods to avoid paying taxes in New York state in collusion with McConney. Weisselberg got perks like luxury vehicles and private school tuition for his grandchildren in exchange for the schemes.
Attorneys for the organization claimed that the schemes were personally driven and that corporate liability was not adequately proven.
Trump has denied knowing about the executives' activities. He was not charged with any wrongdoing in the trial.
Once again, efforts to get at Trump personally and keep him from running from office again have failed.
The conviction is a black mark on his company, however, and could make it more difficult for it to get loans or make deals in the future.
Trump still has some legal hurdles to face, including a DOJ investigation into his involvement in the January 6 breach of the Capitol as well as whether he took classified documents from the White House to Mar-A-Lago when leaving office.
Some think he will be indicted over the allegations in an attempt to keep him from becoming president again, whether or not there is much truth to them.
In reality, his star may be dimming as some polls show voters would prefer Florida Governor Ron DeSantis as the Republican candidate in 2024 to Trump.