In what came as a rude shock to many, the long-time chief financial officer of the Trump Organization, Allen Weisselberg has pleaded guilty to tax fraud and agreed to testify at an upcoming criminal trial of the former US president’s real estate company.
In a statement, Manhattan District Attorney Alvin Bragg said Weisselberg, who served as CFO of the Trump Organization from 2005 to 2021, pleaded guilty to 15 counts of tax fraud.
The 75-year-old admitted his involvement in a 15-year scheme with co-defendant the Trump Organization to defraud federal, New York State and New York City tax authorities, Bragg said.
In view of the development, Bragg said Weisselberg is to serve five months in prison contingent on his testifying truthfully at the October criminal trial of the Trump Organization on tax fraud charges.
Reports have it that Weisselberg has steadfastly refused to deliver testimony against Donald Trump personally. It should be noted that Trump served as president and owner of the Trump Organization until 2017, when he entered the White House.
It was reported that the former Trump Organization executive could face additional prison time if he fails to testify at the criminal trial of the real estate company.
Bragg further noted that jury selection in the Trump Organization trial on tax fraud charges is scheduled to begin October 24.
Weisselberg is reported to have in the plea, admitted evading payment of taxes due on $1.76 million in unreported income. He will be required to repay nearly $2 million in taxes, penalties and interest.
Bragg said “Today Allen Weisselberg admitted in court that he used his position at the Trump Organization to bilk taxpayers and enrich himself”.
“Weisselberg had the Trump Organization provide him with a rent-free apartment, expensive cars, private school tuition for his grandchildren and new furniture -– all without paying required taxes”
“This plea agreement directly implicates the Trump Organization in a wide range of criminal activity and requires Weisselberg to provide invaluable testimony in the upcoming trial against the corporation”.
“We look forward to proving our case in court against the Trump Organization.”
In another development, Trump’s business practices are the subject of a separate probe by New York Attorney General Letitia James and the former president was recently questioned in connection with that investigation.
It was reported that Trump, who is weighing another White House run in 2024, invoked his legal right not to answer questions more than 400 times during his deposition with James.
Reports said James suspected that the Trump Organization fraudulently overstated the value of real estate properties when applying for bank loans, while understating them with tax authorities to pay less in taxes.
The New York cases are among myriad legal battles facing the former president.
Yet again, the former US number one is facing legal scrutiny for his efforts to overturn the results of the November 2020 election and the January 6, 2021 attack on the US Capitol by his supporters.
