Trump Organisation fined €1.5m for tax fraud

A pedestrian passes security barricades in front of Trump Tower in New York (John Minchillo/AP)

Donald Trump’s company has been fined $1.6m, (€1.47m) as punishment for a scheme in which the former US president’s top executives dodged personal income taxes on lavish job perks – a symbolic, hardly crippling blow for an enterprise boasting billions of dollars in assets.

A fine was the only penalty a judge could impose on the Trump Organisation for its conviction last month for 17 tax crimes, including conspiracy and falsifying business records.