Donald Trump's real estate company has been convicted of participating in a 15-year-long scheme to defraud tax authorities, adding to the former president's legal woes as he campaigns for reelection in 2024.

The Trump Organization, which operates hotels, golf courses, and another real estate worldwide, will be fined for Tuesday's conviction; the exact amount will be determined at a later date by the judge presiding over the case in New York state court.

The company pled not guilty, and Trump was not charged in connection with the case.

The judge set January 13 as the date of sentencing.

Although the fine is not expected to be significant for a company of the size of the Trump Organization, the jury's verdict could impede its ability to conduct business by frightening away lenders and business partners.

Mike Hanna of Al Jazeera reported from Washington, D.C. that the verdict will affect the organization's relationships with banks and other businesses. This type of decision will hurt the organization's operations.

He added that although Trump was not charged in the case, the ruling would have a "very negative impact" on the former president, who has encountered several legal issues since leaving office.

Hanna stated, "This is yet another indication of increasing legal pressure."

The Trump Organization was accused of paying personal expenses such as free rent and car leases to top executives, including former chief financial officer Allen Weisselberg, and paying them bonuses as if they were independent contractors.

During his closing argument on Friday, prosecutor Joshua Steinglass told the jury, "The smorgasbord of benefits is designed to keep its top executives happy and loyal."

Letitia James, the New York state attorney general, has filed a separate fraud suit against The Trump Organization.

The US Department of Justice is investigating Trump's handling of sensitive government documents after he left office in January 2021.

Separately, a congressional committee is investigating Trump's efforts to overturn the 2020 election, which he lost to Joe Biden.

As part of a plea agreement with prosecutors, Weisselberg, 75, testified as the government's star witness and will spend no more than five months in jail.

The Trump Organization argued that Weisselberg executed the scheme for his benefit. He is on paid leave from the company and testified that his salary and bonus payments this year exceeded $1 million.

"The issue here is not whether the company saved money as a byproduct," Susan Necheles, a defense attorney, said Thursday in her closing argument. The intention of [Weisselberg] was to benefit himself, not the company.

Trump stated on his Truth Social platform on November 19 that his family received "no economic benefit from executive actions."

Trump, who announced his third run for the presidency on November 15, called the investigation a "witch hunt" motivated by politics. Both Manhattan District Attorney Alvin Bragg and his predecessor Cyrus Vance, who filed the charges, are Democrats.

Trump personally paid hundreds of thousands of dollars in private school tuition for Weisselberg's grandchildren, according to Weisselberg's testimony. Weisselberg pleaded guilty in August to concealing $1.76 million in income from tax authorities.

He also claimed that Trump's two sons, who took over the company's operations in 2017 after their father was elected president, gave him a raise after learning about his tax evasion scheme.

"The entire narrative that Donald Trump was blissfully ignorant is simply not true," stated Steinglass.

The Trump Organization also argued that an outside accountant, Donald Bender, should have discovered and reported Weisselberg's fraud.

The company called Bender as its primary witness, but his testimony appeared to backfire when he stated that he trusted the information Weisselberg provided him and that he had no obligation to investigate further.