Ex-Trump Organization CFO Allen Weisselberg pleads guilty in tax evasion case, agrees to testify against company
- An admission of criminal conduct could mean trouble for the Trump Organization
- Company is accused of helping Weisselberg and other executives avoid income taxes by failing to accurately report their full compensation to the government
Trump Organization CFO Allen Weisselberg pleaded guilty to all 15 of the charges he faced in the case.
In a low, somewhat hoarse voice, he admitted taking in over US$1.7 million worth of untaxed perks – including school tuition for his grandchildren, free rent for a Manhattan apartment and lease payments for a luxury car – and explicitly keeping some of the plums off the books.
Judge Juan Manuel Merchan agreed to sentence Weisselberg to five months’ incarceration at New York City’s Rikers Island jail complex, although he will be eligible for release much earlier if he behaves well behind bars. The judge said Weisselberg will have to pay nearly US$2 million in taxes, penalties and interest.
The plea bargain also requires Weisselberg to testify truthfully as a prosecution witness when the Trump Organization goes on trial in October on related charges. The company is accused of helping Weisselberg and other executives avoid income taxes by failing to accurately report their full compensation to the government. Trump himself is not charged in the case.