Its former CFO Trump Organization pleaded guilty today to fraud and tax evasion and it is expected that will testify as a prosecution witness in the trial against Donald Trump’s company, with whom he collaborated for almost half a century.
Allen Weiselberg, 75 years old, pleaded guilty for all 15 categories which he was facing in the Manhattan court. Although, based on his plea agreement with the prosecution, he will testify about the company’s business practices, he is not expected to cooperate with prosecutors of Manhattan in their broader investigation into the Trump family.
According to the announcement, Weiselberg pleaded guilty to fraud and tax evasion $1.76 million in undeclared income between 2005-20201. Among other things, he allegedly hid real estate and car rentals, school fees and vacation expenses. “Today Allen Weiselberg admitted in court that he took advantage of his position at the Trump Organization to defraud taxpayers and enrich himself.“, commented prosecutor Alvin Bragg.
His agreement with the authorities provides that he will only serve 5 months in prison and will have to repay the state about $2 million (taxes, interest and penalties). If he went to trial and was found guilty, he could have been sentenced to 15 years.
Weiselberg stepped down as the company’s chief financial officer after being prosecuted, but remains on Trump’s payroll as an adviser.
Until today, according to the Athens News Agency, Weiselberg he was adamantly refusing to testify against Trump himself. The criminal trial against the company will begin on October 24. Another investigation, this time civil but into the same allegations of fraud and tax evasion, is being conducted by New York State Attorney General Leticia James. In this investigation, he was called to testify under oath last week donald trump, but who refused to answer questions citing the 5th amendment to the Constitution, which allows witnesses not to make statements that could incriminate them.
In a statement issued, a spokeswoman for the Trump Organization called Weiselberg “honest man” who “I was harassed, persecuted and threatenedby law enforcement agencies, particularly the Manhattan District Attorney, in their never-ending, politically motivated investigation into President Trump.” He reiterated that the company has not committed any wrongdoing and is awaiting the day of judgment in the case. Donald Trump is not a defendant in this trial, howeverbut his company risks a fine or other sanctions.
Source: News Beast
I am Derek Black, an author of World Stock Market. I have a degree in creative writing and journalism from the University of Central Florida. I have a passion for writing and informing the public. I strive to be accurate and fair in my reporting, and to provide a voice for those who may not otherwise be heard.