A jury in Manhattan has found former President Donald Trump’s company guilty of a long-running criminal tax fraud scheme that lasted into his presidency.

Though Trump and his company have repeatedly faced criminal investigations, this case marks the first time his company has been charged, tried, and convicted on criminal charges.

Trump built his political brand, in large part, on his claim that he was an aggressive and successful businessman.

In all, the jury found two entities controlled by Trump guilty on 17 counts of criminal tax fraud and falsifying business records. The maximum penalty is USD 1.6 million.

In a statement, the Trump Organization criticized the verdict and promised to appeal, arguing that blame should fall on the company"s executives and not on the firm itself.