Former Trump Organization chief financial officer Allen Weisselberg pleaded guilty this week to his part in a tax fraud scheme currently being investigated by the Manhattan District Attorney.
The long-time Trump employee and ally accepted a plea deal on Thursday, admitting to his personal role in a years-long tax scheme with the Trump Organization, as well as admitting guilt for personal tax fraud. Weisselberg pleaded guilty to a total of 15 felony counts and agreed to testify against the Trump Organization in exchange for a 100-day sentence at Rikers Island in New York.
The sentence without any type of plea deal would be between five and fifteen years. He will be eligible for release after only three months if he exhibits good behavior while incarcerated.
Weisselberg admitted he was guilty of tax fraud, including a failure to pay taxes on personal expenses, such as private school tuition for his grandchildren, leases on luxury vehicles, and Manhattan apartment utility bills. He will also be required to pay $2 million in back taxes, penalties and interest. He agreed to waive any rights to appeal the sentence or conviction. He will remain free until he is formally sentenced at the conclusion of the trial against the Trump Organization.
Weisselberg’s attorney told reporters the former CFO took the plea deal “to put an end to this case and the years-long legal and personal nightmares it has caused for him and his family.” Weisselberg’s participation in the tax fraud scheme includes but is not limited to purposely underreporting his earnings to the IRS in order to avoid income taxes over a period of about fifteen years.
ARTICLE: LAURA SPIVAK
MANAGING EDITOR: CARSON CHOATE
PHOTO CREDITS: BLOOMBERG
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