CFO of Trump Organisation pleads guilty in tax evasion case – Times of India

CFO of Trump Organisation pleads guilty in tax evasion case – Times of India

NEW YORK: A top executive at former President Trump’s family business pleaded guilty on Thursday to evading taxes in a deal that could potentially make him a star witness against the company at a fall trial. Trump Organisation CFO Allen Weisselberg pleaded guilty to all 15 of the charges he faced in the case. He admitted taking in over $1.7 million worth of untaxed perks – including school tuition for his grandchildren, free rent for a Manhattan apartment and lease payments for a luxury car – and explicitly keeping some of the plums off the books.
The judge agreed to sentence Weisselberg to five months’ incarceration at New York City’s Rikers Island jail complex, although he will be eligible for release much earlier if he behaves well behind bars. The judge said Weisselberg will have to pay nearly $2 million in taxes, penalties and interest. The plea bargain also requires Weisselberg to testify truthfully as a prosecution witness when the Trump Organization goes on trial in October on related charges. The company is accused of helping Weisselberg and other executives avoid income taxes by failing to accurately report their full compensation to the government. Trump himself is not charged in the case.
Manhattan district attorney Alvin Bragg said that Weisselberg’s plea “directly implicates the Trump Organization in a wide range of criminal activity and requires Weisselberg to provide invaluable testimony against the corporation.” If convicted, the company could face fines or potentially be placed on probation and be forced to change certain business practices.

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