Trump group investigations Former CFO pleads guilty

Trump group investigations: Former CFO pleads guilty

Status: 08/18/2022 21:00

The former CFO of the Trump Organization has admitted to evading taxes with Donald Trump’s family business. The admission forces Weisselberg to testify about the company’s business practices at trial.

Former Trump Organization chief financial officer Allen Weisselberg admitted in a New York court to evading taxes with former President Donald Trump’s company for more than 15 years. The 75-year-old man repeatedly responded to numerous questions from Judge Juan Merchan with “Yes, Your Honor,” US media reported unanimously in court.

Thus, he pleaded guilty to a total of 15 counts – including conspiracy, tax fraud, theft and forgery of business documents. With his guilty plea, the top official agreed to a settlement in the criminal proceedings to avoid a prison sentence of up to 15 years.

$2 million fine

In return, Weisselberg must testify against the company in the trial if the prosecution wants to summon him — but not against Trump himself. He must also pay a fine of nearly two million dollars (1.98 million euros) and serve five months in prison.

“In one of the most difficult decisions of his life, Weisselberg today decided to plead guilty to ending this case and the years of legal and personal nightmares it caused him and his family,” said his attorney Nicholas Gravante. Jr, according to media reports.

Weisselberg is considered a key figure

Weisselberg is a longtime business partner of Trump. During his presidency, he helped run Trump’s real estate empire. Alongside his family members, he is considered a key figure in the company. “The confession directly implicates the Trump Organization in a broad spectrum of criminal activities,” said prosecutor Alvin Bragg.

Weisselberg and the Trump Organization, which manages golf clubs, hotels and other properties around the world, were indicted in early July 2021 for a wide-ranging wave of tax fraud. Trump himself was not charged.

Jury selection for the trial begins October 24 — 15 days before the November 8 midterm elections, in which Trump’s Republican Party hopes to retake the chambers of Congress. A spokeswoman for the Trump Organization said the former executive, who worked for Trump for half a century, was “harassed, harassed and threatened by law enforcement in his never-ending and politically motivated attempt to win over President Trump”. The company did nothing wrong, she added.