Donald Trump’s privately held business conglomerate; convicted on 17 counts of tax fraud in 2022
Background
The Trump Organization is a privately held company that serves as the holding company for Donald Trump’s real estate and other business interests, including hotels, golf courses, resorts, and branded properties. Founded in the 1920s by Trump’s father, it became the vehicle for Trump’s expansion into commercial real estate beginning in the 1970s. In December 2022, the Trump Organization was convicted on 17 counts of criminal tax fraud in New York, finding that the company had engaged in a decade-long scheme to compensate executives with off-the-books benefits to avoid payroll taxes. In February 2024, a New York court entered a civil fraud judgment of $364 million against Trump and the organization for falsifying business records to inflate asset values.