It’s been reported that (Bloomberg) Longtime Trump Organization CFO Allen Weisselberg has pleaded guilty to more than a dozen counts of tax fraud, and according to two people with knowledge of the situation, he may be forced to testify against the company.
Most The Bloomberg Report on It
People familiar with the matter said that even though Weisselberg, who turned 75 on Monday, will not cooperate with authorities as part of his plea deal, he could be subpoenaed to testify for the prosecution if the trial involving former President Donald Trump’s family real estate business goes forward on October 24.
To this day, Justice Juan Merchan of the New York State Supreme Court has not ruled on whether or not Weisselberg should be sentenced for his guilty plea. The CFO could have received a sentence of up to 15 years in prison if found guilty at trial, but according to his plea agreement, he will only serve five months in prison. He might spend less than a year in jail if he behaves himself.
Both the office of Manhattan District Attorney Alvin Bragg’s spokesperson Danielle Filson and a lawyer for the Trump Organization, Alan Futerfas, have declined to comment on the ongoing plea negotiations. Another of Weisselberg’s attorneys, Mary Mulligan, didn’t respond to email or voicemails seeking comment.
Last year, both Weisselberg and the Trump Organization were accused of conspiring to evade income taxes by paying some employees in unreported bonuses and other benefits. Weisselberg was charged with being the main beneficiary, receiving over $1.7 million in perks like a free Manhattan luxury apartment and Mercedes-Benz automobiles for both himself and his wife.
The trial is scheduled to begin in October after Merchan denied motions to dismiss filed by the company and Weisselberg on August 12. Weisselberg claimed that he was the target of the case because he wouldn’t help the government’s case against Trump.
The Test of the Middle
At the beginning of the year, two high-ranking prosecutors left the case, claiming that Bragg didn’t agree with their efforts to press charges against the ex-president. As the DA has stated, further investigation is required.
People familiar with the matter say that on Monday, attorneys for Weisselberg, a Trump executive for four decades, met with prosecutors to try to work out a deal in advance of his trial. The plea negotiations were first reported by the New York Times.
The tax-fraud trial could begin before the November midterm elections if the Trump organization decides to handle it on its own.
It’s just one of several legal challenges Trump faces. Last week, secret documents were discovered at Trump’s Mar-a-Lago resort in Florida, prompting an investigation by the Justice Department. Last week, the former president was also questioned under oath in a civil investigation into possible fraud in his real estate valuations being conducted by New York Attorney General Letitia James. He refused to answer, claiming his Fifth Amendment protection against being forced to testify against himself.
New York State Supreme Court Case No. 1473/2021, People of the State of New York v. The Trump Organization (Manhattan).
Current Top Stories from Bloomberg Businessweek
The top 5 Fall getaways in the Northeast
This story has been updated with new information. Fall brings a welcome respite from summer’s heat and humidity as well...
Giant Slide reopened in the US for the first time since going viral
Thousands of people showed up to the Giant Slide in Detroit on the first weekend it reopened since going viral.
This hiker falls to his death at the Grand Canyon
A hiker walking in Grand Canyon National Park fell approximately 200 feet to his death on Friday afternoon, according to...
Ford fixed a problem with the Mustang that caused many crashes
Ford Mustang prototype mystery of 'The Bulge' has finally been solved.
You can buy a 90s Porsche-inspired boat, if you really want to
Yes, this is a yacht made to kind of look like a 993-generation 911 cabriolet.