Former Trump Organization CFO Allen Weisselberg is expected to testify against former President Donald Trump‘s companies in a guilty plea for New York state tax crimes, according to reports.
Weisselberg, 75, has been a longtime and loyal employee of Trump’s company but is reportedly in advanced talks to plead guilty to a 15-year tax fraud scheme, multiple outlets reported on Wednesday.
The judge overseeing the case has set a hearing for Thursday morning. Notably, Weisselberg will not enter into a cooperation agreement to help prosecutors in Manhattan District Attorney Alvin Bragg’s criminal investigation of the real estate companies’ finances.
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The terms of the deal are still being finalized, but sources familiar with the matter said Weisselberg would receive a five-month prison sentence with 100 days behind bars. Weisselberg faced up to 15 years in prison.
Trump’s company will not plead guilty on Thursday despite Weisselberg’s expectation to admit his own guilt. The former CFO is also not expected to implicate anyone in the Trump family, and Trump himself has not been accused of wrongdoing.
Prosecutors have long sought to persuade Weisselberg to testify against the former president due to his relationship with Trump and the knowledge he has regarding the organization’s business practices. The investigation commenced in the latter half of the Trump administration under former Manhattan District Attorney Cyrus Vance.
The Manhattan District Attorney’s Office has been looking into whether Trump and his company fraudulently inflated the value of his real estate to obtain loans and benefits.
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Last year, Weisselberg was charged with participating in a 15-year scheme of obtaining off-the-books benefits from the Trump Organization. He was hit with 15 felony charges by a Manhattan grand jury and accused of avoiding taxes on roughly $1.7 million worth of income.
Additionally, Trump himself is facing investigations from the New York Attorney General’s Office, which has reportedly collaborated with the Manhattan office’s review of the Trump Organization. The state’s attorney general, Letitia James, has been conducting a civil inquiry of Trump’s business practices.
