Former US President Donald Trump‘s, Chief Financial Officer (CFO) of the Trump Organization Allen Weisselberghas admitted to charges of tax evasion in connection with a long-running investigation into Trump’s company.
Weisselberg, the Chief Financial Officer (CFO) at Trump’s company, has faced 15 offenses, including conspiracy, criminal tax fraud, theft and tampering with business records. Charged with evading taxes on company benefits, including payments for luxury cars, rent for a Manhattan apartment, and private school tuition for his grandchildren, Weisselberg pleaded guilty to all 15 charges in the lawsuit heard today.
PRISON AND FINE
Court Judge Juan Manuel Merchan said that Weisselberg would be sentenced to 5 months in prison and then 5 years of probation at Rikers Island prison in New York City, under the previously established Defense Agreement. The judge also stated that Weisselberg would have to pay $2 million. Weisselberg will be required to testify as a witness in court in October on charges involving Trump’s company.
THEY ARE CHARGED OF TAX MISSING
The company is accused of helping Weisselberg and other executives avoid income taxes by not accurately reporting their taxes to the government. Weisselberg is the only person to face charges so far in the long-running investigation into Trump’s company’s business practices. Weisselberg is accused of defrauding Trump’s company of more than $900,000 in unpaid and undeserved tax returns over several years, including untaxed bonuses such as rent, car payments and tuition.
Weisselberg’s attorney, Nicholas Gravante Jr. He had previously said that his client would plead guilty in exchange for the promised five-month prison sentence. Prosecutors said the Defense Agreement would require Weisselberg to plead guilty to each of the 15 charges in the indictment, to speak in court about the company’s role in the alleged compensation arrangement, and to serve as a witness in charges against Trump’s company in October.
Weisselberg, seen as one of Trump’s most loyal business partners, was arrested in July 2021. Prosecutors alleged that the company had granted untaxed benefits to top executives, including Weisselberg, for 15 years.