NY AG Letitia James trump lawsuit
© William FarringtonNY AG Letitia James filed suit Wednesday against Donald Trump, his three oldest kids Eric, Don Jr. and Ivanka, as well as the Trump Organization, alleging fraudulent business practices September 21, 2022
Former President Donald Trump's company, the Trump Organization, was convicted of tax crimes committed by two of its longtime executives following the conclusion of a trial in the New York Supreme Court.

Two company entities, the Trump Corporation and the Trump Payroll Corp., were on trial and were both found guilty on all 17 counts the company faced, including conspiracy, scheme to defraud, criminal tax fraud, and falsifying business records.

Additionally, the real estate, hospitality, and golf resort company also faces the possibility of a $1.6 million fine.

New York Attorney General Letitia James (D) issued a statement following the ruling, saying 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.

Alan Futerfas, an attorney for the Trump Organization, told members of the press the company would appeal the decision, according to Reuters.

Prosecutors developed their investigation and eventual charges largely around the company's longtime chief financial officer, Allan Weisselberg, who pleaded guilty in August to 15 counts, including tax fraud, grand larceny, and conspiracy. He was offered a highly reduced sentence of five months in jail for providing testimony against the company. Previously, he faced up to 15 years in prison.

The present company comptroller, Jeffrey McConney, who admitted in his testimony to committing crimes, was given immunity under New York law because he was called by prosecutors as a grand jury witness for the case.

Weisselberg's testimony outlined how he and McConney devised ways to cheat state and federal tax authorities stemming back to 2005. The former CFO gained many benefits through the scheme, including an apartment rental he didn't have to pay for, luxury vehicles, and private school tuition for his grandchildren, prosecutors said.

Throughout the multiyear scheme, Weisselberg at times paid the company back for his personal expenses, which allowed him to use pretax compensation illegally.

Prosecutors said the business conduct by McConney and Weisselberg put the Trump Organization in a criminally liable situation.

Attorneys for the entities argued that Weisselberg's efforts were personally driven and that prosecutors failed to present enough evidence to prove corporate liability.

Toward the end of the case, the Manhattan District Attorney's Office argued Trump had personal knowledge of the tax loopholes abused by the executives. Assistant District Attorney Joshua Steinglass cited a document that had been initialed by the former president and claimed it was "explicit proof" of his knowledge of the executives' actions.

Trump was not charged with wrongdoing and in a recent post to his Truth Social media platform denied knowledge of the executives' misdoings.

While the ruling Tuesday does not inhibit Trump in any way from running for future office, as he just announced last month his extremely early bid to run for president in 2024, the state Supreme Court case can make it more difficult for his company to secure loans and make deals.

Although the Trump Organization tax fraud case did not personally affect the former president, it serves as just one of many legal matters facing Trump on his road to reelection.

Trump also faces an investigation by the Department of Justice over efforts to overturn the 2020 presidential election results and his handling of classified documents, a matter that arose in August after the FBI raided his Mar-a-Lago estate in Florida.

The Washington Examiner contacted Futerfas for response.