Former Trump Organization Chief Financial Officer Allen Weisselberg pleaded guilty Thursday to 15 counts of fraud and tax evasion, acknowledging his role in a multiyear scheme to avoid paying taxes on more than $1.7 million of his income.
Weisselberg, 75, entered a plea deal tied to his indictment by the Manhattan District Attorney’s Office, which is investigating former President Donald Trump‘s companies. It does not ask Weisselberg to assist in a larger investigation related to Trump, and the deal also will not implicate Trump.
TRUMP CFO AGREES TO TESTIFY AGAINST COMPANY AS PART OF GUILTY PLEA OVER TAX CRIMES
Under the terms of the plea deal, Weisselberg received a five-month jail term at New York City’s Rikers Island and five years of probation, and with time granted for good behavior, he is expected to serve around 100 days behind bars.
Weisselberg pleaded guilty to the following criminal charges laid out in the indictment: conspiracy, scheme to defraud, grand larceny, criminal tax fraud, falsifying business records, and offering a false instrument for filing.
“Yes, your honor,” Weisselberg told Judge Juan Merchan 15 times as his charges were laid out.
Manhattan District Attorney Alvin Bragg issued a statement saying the guilty plea “directly implicates the Trump Organization in a wide range of criminal activity and requires Weisselberg to provide invaluable testimony in the upcoming trial against the corporation,” adding that he looks forward to proving the case against the Trump Organization.
Prosecutors also said Weisselberg would be required to pay back $1,994,321 in taxes he owed. If Weisselberg violates the plea deal, such as failing to testify truthfully or lapsing on repaying his taxes, he could be sentenced between five and 15 years.
The Trump Organization granted untaxed corporate perks to Weisselberg for years, in forms including large tuition payments for his grandchildren at a distinguished Manhattan private school, as well as a luxury vehicle and an upscale apartment in New York City.
Weisselberg and the Trump Organization were indicted by a New York grand jury on June 30 last year.
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Two Trump-related companies have pleaded not guilty to tax-related crimes as part of the investigation, and the former CFO is the only person thus far to face criminal charges in the Manhattan district attorney’s long-running inquiry into the company’s business practices.
Additionally, the former CFO agreed to testify in a trial against the Trump Organization, which is slated for jury selection on Oct. 24.
