The Trump Organization was convicted of tax fraud in a Manhattan court. Former US President Donald Trump’s company has been accused of masterminding a scheme to allow its top managers to evade taxes on a range of benefits they received, such as housing and luxury cars.

The guilty verdict came after two days of deliberation, at the conclusion of a three-year investigation. Allen Weisselberg, chief financial officer of the money-laden holding company, pleaded guilty to masterminding the tax evasion scheme, which was implemented over a period of 15 years, and was sentenced to 5 months in prison.

Following today’s ruling, the Trump Organization could be fined up to $1.6 million. Former President Trump described the measures as a witch hunt by his Democratic political opponents. He and his sons were not in the dock, but it was a ruling that would have serious implications for the image of the entire family and for the company’s relations with banks and lending institutions.