Your Wednesday Briefing: The Trump Organization Sentenced for Tax Fraud

In addition, the funeral of the former Chinese leader and Indonesia prohibits extramarital sex.

ImageDonald Trump continues to face multiple state and federal investigations stemming from conduct in his professional and political life.Credit...Jamie Kelter Davis for The New York Times

Trump Organization found guilty of tax evasion scheme

Donald Trump's family real estate business was convicted of tax evasion and other financial crimes yesterday, a remarkable rebuke of the company of the former president and what prosecutors described as his "culture of fraud and deceit".

Conviction on all 17 counts, after more than a day of jury deliberations at the New York State Supreme Court in Manhattan, resulted from a long-running scheme in which the organization Tr ump was handing out luxury off-the-books perks like luxury apartments and luxury cars to some executives.

While prosecutors stopped short of charging g the former president, they invoked his name throughout the month-long trial, telling jurors he personally paid for some of the benefits and even approved a crucial aspect of the scheme.

Analysis: Conviction for tax evasion, fraud scheme, conspiracy, and falsifying business records is not a death sentence for the Trump Organization. The maximum penalty he faces is $1.62 million, a rounding error for Trump. Still, the verdict represents a very public judgment for the Trump Organization.

Fallout: the company's condemnation - coupled with the prosecution's assertion that Trump "explicitly endorsed tax evasion" - could reverberate throughout the 2024 presidential race and could lay the groundwork for a broader criminal investigation into Trump's business practices.