Two Trump Organization companies were ordered to pay $1.6 million in fines Friday after a jury found them guilty of 17 counts of tax fraud which enabled multiple top executives to receive tax-free compensation.

The penalty was handed down by Judge Juan Merchan and was the maximum fine permitted under state sentencing guidelines.

The Trump Corporation and The Trump Payroll Corporation, two subsidiaries of the Trump Organization, were both charged with what prosecutors called a "sweeping and audacious" scheme to compensate company executives "off the books."

"Today, former President Trump's companies were sentenced to the maximum fines allowed by law following historic convictions for a total of 17 felony crimes," said District Attorney Bragg in a statement Friday.

"Chief Financial Officer Allen Weisselberg, The Trump Corporation, and The Trump Payroll Corp. conducted and benefited from sweeping fraud for well over a decade," he added.

Trump's family business is known as the Trump Organization, but it in fact consists of hundreds of business entities, including the Trump Corporation and the Trump Payroll Corporation.

Weisselberg, Trump's long-time CFO, was sentenced to five months in jail on Tuesday by a New York judge, stemming from his role in the decade-long tax fraud scheme. Weisselberg previously testified as the state's key witness against the Trump Organization.

Bragg also said he thinks the financial penalty for decades of fraudulent behavior wasn't severe enough.

"While corporations can't serve jail time, this consequential conviction and sentencing serves as a reminder to corporations and executives that you cannot defraud tax authorities and get away with it," Bragg said. "It is also an important reminder that our state law must change so that we can impose more significant penalties and sanctions on corporations that commit crimes in New York."

The DA added that his office's investigation of Trump and his businesses remains ongoing.

Although Trump was not charged, his name was mentioned frequently at trial, and his signature appeared on some of the documents at the heart of the case. His lawyers have said they plan to file an appeal.