Donald Trump’s real estate company has been found guilty of running a criminal scheme to defraud tax authorities for more than 15 years.
The scheme operated by the Trump Organization included avoiding paying personal income taxes on perks such as rent-free apartments and luxury cars.
“The benefits offer is designed to keep their top executives happy and loyal,” prosecutor Joshua Steinglass told jurors during his closing arguments Friday.
The firm, which operates hotels, golf courses and other real estate around the world, had pleaded not guilty.
The former president of the United States was not personally charged in the case.
The Trump Organization had argued that CFO Allen Weisselberg, 75, ran the scheme to profit.
He is on paid leave and said he received more than $1 million in salary and bonuses this year.
The firm will be sentenced on January 13.
Although the company now faces paying a fine, it is considered unlikely to cause serious damage to a company of its size. The group is made up of around 500 business entities.
However, the conviction could make lenders and partners think twice.