Donald Trump’s company has been convicted of tax fraud.
The case, which was brought by the Manhattan District Attorney, found a significant repudiation of financial practices at the former president’s business.
The Trump Organisation had been accused of being part of an illegal plot by top bosses to avoid paying personal income tax.
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This involved them being receiving off-the-books perks such as rent-free apartments and luxury cars.
The guilty verdict came on the second day of deliberations, and comes after a three-year investigation by prosecutors into the former president and his firm.
And while Trump himself was not personally on trial, prosecutors were clear that they believed he was well aware of what was going on.
Despite the conviction, however, it's not thought that the penalties will jeopardise the future of Trump’s company.
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It's understood that the Trump Organisation could face a fine of up to 1.6 million dollars (£1.32 million), which could impact any of its future dealings.
UNILAD has contacted Donald Trump's representatives for a comment.
This latest legal battle comes after Trump announced that he was running once again to be President of The United States.
Speaking to his loyal and faithful supporters last month, the 76-year-old said: "We've always known this was not the end, it was only the beginning to rescue the American dream.
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"In order to make America great and glorious again I am tonight announcing my candidacy for President of the United States."
The announcement sparked cheers and applause from those in the audience.
Trump described the United States as a 'nation in decline', according to ABC News, and he believes he will be the saviour to bring it back to glory.
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"This decline is not a fate we must accept," he said.
"When given the choice, boldly, clearly and directly, I believe the American people will overwhelmingly reject the left's platform of national ruin.
"And they will embrace our platform of national greatness and glory to America."
He added: "This is a party that has become much bigger, much stronger, much more powerful [and] can do much more good for our country."
Topics: Donald Trump, US News, Politics