Ex-CFO of the Trump Organization Allen Weisselberg admits to tax fraud
On Thursday, Allen Weisselberg, the former CFO of the Trump Organization, pleaded guilty to multiple counts of tax fraud related to the company’s business operations.
The judge ordered Weisselberg, 75, to serve five months in a Rikers Island prison and pay over $2 million in back taxes, interest, and penalties before being placed on five years of probation.
In June 2021, Weisselberg and the Trump Organization were accused with participating in a 15-year “off the books” plan to assist high-ranking Trump Organization employees in evading taxes. Allegations surfaced that Weisselberg failed to report $1.7 million in earnings to the Authorities.
Weisselberg said on Thursday that he was aware that he could spend up to 15 years in prison if he did not pay back the taxes or give accurate testimony during the upcoming trial of the Trump Organization.
“to put an end to this case and the years-long legal and personal nightmares it has caused for him and his family. Rather than risk the possibility of 15 years in prison, he has agreed to serve 100 days. We are glad to have this behind him.” Nicholas Gravante Jr his attorney explained
In a statement, Manhattan District Attorney Alvin Bragg said that Weisselberg had used his position at the firm “to bilk taxpayers and enrich himself.”
Weisselberg, according to Bragg, “Instead of paying his fair share like everyone else, 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,”. Weisselberg’s evidence will be crucial in the future trial against the Trump Organization, and the plea agreement clearly implicates the Trump Organization in a wide variety of criminal activities.
Trump has been the subject of multiple, long-running criminal investigations that have captured national attention in the wake of the FBI’s search of his Florida estate, Mar-a-Lago, last week. However, while the Trump Organization is facing its own set of charges, the president himself is not accused of any wrongdoing. Weisselberg has also shown no signs of offering assistance in any inquiry of Trump on a personal level.