Last year, the Trump Organization and its financial advisor Allen Weiselberg in New York were accused of years of tax fraud. Weiselberg had hidden a total of $1.7 million in income. It relates to benefits such as car rentals, housing, and private education that were entered as income, but were not taxed.
The 75-year-old chief financial officer pleaded guilty Thursday. As part of his agreement, Weisselberg will receive just five months in prison and must pay nearly $2 million in back taxes. He risked fifteen years in prison.
Under those circumstances, Weisselberg, who has worked with Trump since the 1980s, will also have to testify against the Trump Organization if he is subpoenaed. The company itself is also being sued in 14 counts. This operation was scheduled to begin on October 24. The former president’s company faces fines if found guilty. Weisselberg should not cooperate in a broader investigation against Trump himself, but his testimony could bolster the case.
Weisselberg will be 1.7 million dollars
Withheld from income. It’s about cars, homes and private education
In response, a Trump Organization spokeswoman described Weiselberg as a “good and honorable man” who has been “harassed, persecuted and threatened by law enforcement in their never-ending politically motivated quest to arrest President Trump.”
The Trump Organization includes hotels, golf courses, and vacation rentals all over the world. Trump himself described the accusations as “witch hunts by radical left-wing Democrats” and “judicial misconduct.” (ldk)
