Former U.S. President Donald Trump's family business chief executive said Thursday that he could potentially make him an unfavorable witness. A company in a fall trial that pleaded guilty to tax evasion in a transaction.
His CFO Allen Weisselberg of the Trump Organization pleaded guilty to all 15 charges he faced in the case. He was accused of dodging taxes on extravagant fringe benefits he got from the company, including rent for a luxury car, rent for a Manhattan apartment, and tuition for his grandson's private school.
Weisselberg is the only person ever to face criminal charges in the Manhattan District Attorney's lengthy investigation into the company's business practices.
Judge Juan Manuel Merchan agreed to sentence Weisselberg to five months' imprisonment and five years' probation at the Rikers Island prison complex in New York City.
In the plea deal, Weisselberg will be a witness for the prosecution when the Trump Organization goes on trial on related charges in October. You will also be asked to testify truthfully. The company has been accused of helping Weisselberg and other executives avoid income taxes by failing to accurately report their full compensation to the government.
Trump himself not indicted.
Weisselberg's testimony could undermine the defense of the Trump organization. may be forced to change.
This is breaking news. Here's AP's previous story:
Allen Weisselberg, the chief financial officer of Donald Trump's company, has been accused of violating tax laws in a deal requiring him to testify about illegal business practices in the Trump Organization. will plead guilty, prosecutors and his lawyers told court Thursday.
Weisselberg is accused of receiving more than $1.7 million in off-the-books compensation from the former president's firm over several years. This includes tax-exempt benefits such as rent, car payments and school tuition.
Attorney Nicholas Grabante Jr. said his client would plead guilty in exchange for the promised five months in prison.
Prosecutors said the plea deal would allow Weisselberg to plead each of the 15 counts against which he was indicted, speak in court on Thursday about the company's role in the alleged compensation agreement, and as the Trump organization proceeds. A trial in October on related criminal charges.
The 75-year-old Weisselberg faces a five-month prison sentence at New York City's infamous Rikers Island complex, which will cost him about $2 million, including taxes. compensation must be paid. fines and interest, prosecutors told the court. Weisselberg is eligible for release after about 100 days if that punishment continues. He is the only person who has been killed.
Weisselberg, who was considered one of Trump's most loyal business associates, was arrested in July 2021. His lawyers argued that the Democratic-led district attorney's office punished him because he failed to provide information that would hurt Trump.
The district attorney is also investigating whether Trump or his company lied to banks or the government about the value of its assets in order to obtain loans or reduce taxes.
The district attorney at the time, Cyrus Vance, Jr., who initiated the investigation, last year directed his agents to present evidence to a grand jury and seek an indictment against Trump, said former prosecutor Mark Pomerantz. says Mr. Investigation.
But after Vance resigned, his successor Alvin Bragg allowed the grand jury to be dismissed with acquittal.Both prosecutors are Democrats. Bragg said the investigation is ongoing.
The Trump Organization was not involved in Weisselberg's guilty plea expected on Thursday and is set to face trial in October over alleged compensation schemes.
Prosecutors For 15 years, officials alleged that the company had provided tax-exempt benefits to senior management, including Weisselberg. In Weisselberg alone, the federal government, states, and cities have accused him of defrauding over $900,000 in unpaid taxes and unfair tax refunds.
Under state law, the most serious charge against Weisselberg, grand theft, could result in him being sentenced to up to 15 years in prison. However, there is no minimum duty imposed on the charge, and most first-time offenders in tax-related cases do not go to jail.
Tax evasion charges against the Trump Organization are punishable by a fine of twice his unpaid taxes or $250,000, whichever is greater.
Trump has not been charged with a criminal investigation. A Republican denounced the New York investigation as a "political witch hunt" and said his firm's actions were standard practice in the real estate business and in no way criminal. In a parallel civil investigation into New York Attorney General Letitia James' allegations that Trump's firm misled lenders and tax authorities about property values, Trump sat down for depositions. I have exercised the Fifth Amendment protection against self-incrimination more than 400 times.
