Trump Tax Fraud Case: Trump Organization CFO Allen Weisselberg Pleads Guilty, Willing to Testify vs Trump
As expected, one of Donald Trump's most trusted individuals, Trump Organization CFO Allen Weisselberg, has pleaded guilty to various charges of tax evasion. Weisselberg is considered Trump's "Moneyman" who knows the ins and outs of Trump's and his company's finances.
During a hearing at a New York court on Thursday, the senior Trump Organization adviser and longtime CFO admitted to over $1.7 million worth of untaxed extras. These included school tuition for his grandchildren, free rent for a Manhattan apartment, and lease payments for a luxury car. According to a report by the Associated Press, Weisselberg kept these untaxed extras off the books.
Allen Weisselberg Sentenced to 5 Months in Prison
Judge Juan Manuel Merchan agreed to sentence the former Trump CFO to five months in prison. He will be held in New York City's Rikers Island jail complex. However, it is noted that he may only be spending a little more than three months there if he has good behavior.
In addition, the judge also ordered Weisselberg to pay nearly $2 million. This includes his unpaid taxes, as well as various penalties and interest. He will also be under probation for five years. He will remain free on bail until he is formally sentenced.
According to the BBC, he initially pleaded not guilty. However, he decided to enter a guilty plea following a plea deal with the Manhattan District Attorney. In a statement, Weisselberg's lawyer said that he pleaded guilty to finally end the case, as well as his "years-long legal and personal nightmares" that have plagued him and his family.
READ MORE: Trump Organization CFO Allen Weisselberg Expected to Plead Guilty in New York Tax Evasion Case
Weisselberg Agrees to Testify vs. Trump Organization
While former President Donald Trump himself was not involved in the case, it may have some huge repercussions for him as he faces a myriad of cases: from National Records to his attempted insurrection on January 6, 2021. This is because his longtime friend and confidante has agreed to testify against the Trump Organization as part of his plea deal.
Weisselberg will testify as a witness for the prosecution on the trial against the Trump Organization. The trial is expected to happen in October. He agreed to talk truthfully when questioned.
Manhattan District Attorney Alvin Bragg stated that the Weisselberg plea directly implicates the Trump Organization. According to Bragg, the company is under investigation for various criminal activities, and Weisselberg will provide "invaluable testimony for the trial.
According to The Hill, Weisselberg is now cooperating with the investigation into the corporation concerning this specific case; and as the case against them goes on, the former president's name is expected to come up often.
The Trump Organization still maintains that it has done nothing wrong. However, if convicted of a crime, the company may face steep fines, as well as have more complicated business deals. This could also mean more financial troubles for the former president.
This article is owned by Latin Post.
Written by: Rick Martin
WATCH: AP Explains: Trump Organization CFO pleads guilty - Associated Press