By Tom Hals

(Reuters) – Previous U.S. President Donald Trump’s authentic estate firm and its chief monetary officer have been criminally billed with tax fraud.

Beneath are five important takeaways from the indictment which was unsealed on Thursday.

— Allen Weisselberg and the Trump Business ended up charged by Manhattan District Attorney Cyrus Vance Jr with scheming to offer “off the reserve” compensation to Weisselberg and other unknown executives, reducing tax obligations. They entered not guilty pleas.

— Weisselberg been given $1.76 million in indirect payment including hire on a Manhattan condominium, yearly lease payments on two Mercedes Benz autos, beds, televisions and even funds. He also concealed for many years that he was a resident of New York Metropolis, averting area taxes. The indictment said he evaded about $900,000 in many taxes.

— The former Republican president and his adult little ones who run the Trump Group were being not billed and not accused of wrongdoing, although the previous president was stated in the indictment. Weisselberg’s household members obtained private college tuition compensated by private checks drawn on the account of Donald Trump.

— The 15-count indictment includes a demand of grand larceny in the 2nd degree in opposition to Weisselberg, which carries a maximum prison time period of 15 decades.

— The scheme to defraud tax authorities started in 2005 and continues to this working day, according to the indictment. Prosecutors reported the plan also incorporated paying out a significant portion of Weisselberg’s and other employees’ yr-close bonuses from linked Trump Organization corporations, which decreased tax obligations.

(Reporting by Tom Hals in Wilmington, Delaware Editing by Noeleen Walder and Daniel Wallis)