Trump Tower in New York City, USA
Trump Tower in New York City, USAiStock

The Trump Organization, along with its finance chief, Allen Weisselberg, has been indicted by a grand jury in Manhattan for alleged tax crimes, according to reports in US media. The precise nature of the tax crimes has yet to be specified, but it appears that former US President Donald Trump will not be personally implicated.

The Manhattan district attorney has been investigating alleged fraud by the Trump Organization for several years, and charges by District Attorney Cyrus Vance will likely focus on whether Weisselberg and other senior executives received various benefits without reporting them on their tax returns.

Weisselberg is expected to make his first court appearance on Thursday, along with lawyers representing the Trump Organization. In a statement earlier this week, Weisselberg said the case was looking at “things that are standard practice throughout the US business community, and in no way a crime.”

The current investigations will be taking into account the past eight years of Trump’s personal and corporate tax returns, only obtained after a prolonged legal battle which was ultimately settled by the Supreme Court earlier this year. Meanwhile, the former president has accused the investigation of being politically motivated, and has denied any wrongdoing on his own part or on the part of his business.

According to Daniel Goldman, the lead lawyer in the US House of Representatives in its first impeachment of former President Trump, the indictment alone, regardless of outcome, could influence lenders to call in their loans to the Trump Organization, which could bankrupt the company.