A top executive at former President Donald Trump’s family business pleaded guilty Thursday to felony tax evasion, which could make him a prime witness against the company in a trial that could come in the fall.
Trump Organization CFO Allen Weisselberg has pleaded guilty to all 15 charges he faced in the case. He was charged with evading taxes on the generous fringe benefits he earned from the company, including lease payments for a luxury car, rent for a Manhattan apartment and private school tuition for his grandchildren.
In his case, Weisselberg is the only one facing criminal charges so far in the Manhattan district attorney’s lengthy investigation into the company’s business practices.
Judge Juan Manuel Merchan agreed to a sentence of five months in prison and five years of probation at New York City’s Rikers Island prison complex for Weisselberg.
However, the now guilty man will be eligible for release much sooner if he behaves well behind bars. The judge said Weisselberg will have to pay nearly $2 million in taxes, penalties and interest.
Weisselberg’s attorney, Nicholas Gravante Jr., said his client pleaded guilty “to end this case and the years of legal and personal nightmares it has caused him and his family.”
The plea deal 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 total compensation to the government.
Trump himself is not charged in the case.
Weisselberg’s testimony could potentially weaken the Trump Organization’s defense. If found guilty, the company could face fines or potentially be placed on probation and be forced to change certain business practices.
*With information from the Associated Press
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