Trump CFO Allen Weisselberg pleads guilty in tax fraud case

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Former Trump Organization CFO Allen Weisselberg on Thursday pleaded guilty to tax violations and admitted to helping run a years-long tax fraud scheme at the former president’s business.

Why it matters: Weisselberg's testimony may put him front and center at a future trial in the criminal case against the Trump Organization, where he will have to testify about his role in the elaborate scheme.

Driving the news: Weisselberg on Thursday admitted to all 15 felonies that prosecutors in the Manhattan district attorney’s office accused him of, but steered away from Trump and his family.

Weisselberg has refused to cooperate with prosecutors in their investigation into Trump and his family, the New York Times notes.

The big picture: Last year, the Manhattan district attorney’s office charged Weisselberg and the Trump family business for taking more than $1.7 million in "off the books" compensation from the organization.

Details:Under the terms of the plea deal, Weisselberg, who was facing up to 15 years in prison, will serve five months as well as five years of probation, AP reported.

With time credited for good behavior, he is expected to be in prison for about 100 days, the New York Times reported.

Weisselberg must also pay nearly $2 million in taxes, penalties and interest, per AP.

Under the plea deal, Weisselberg must also testify as a prosecution witness at the forthcoming trial for the Trump Organization, per AP.

Prosecutors alleged that the scheme allowed Weisselberg to skirt paying taxes on rent and private school tuition, per the Times.

Weisselberg, 75, is the only person facing criminal charges so far in the investigation into the Trump organization's business practices.

Weisselberg and the Trump Organization have tried to get the charges dismissed, claiming they were politically motivated.

What to watch: A judge last week denied a request to dismiss the Manhattan tax fraud case against the Trump Organization and Weisselberg, allowing the case to move forward to a trial in October.

Go deeper... Judge denies Trump Organization attempt to dismiss tax fraud case

Editor's note: This story has been updated with additional details.

ThaiEdition on August 18th, 2022 at 16:17 UTC »

" I don't know this person, never met him before. I heard he is a bad person "

systemhost on August 18th, 2022 at 16:02 UTC »

Weisselberg on Thursday admitted to all 15 felonies that prosecutors in the Manhattan district attorney’s office accused him of, but steered away from Trump and his family.

Under the plea deal, Weisselberg must also testify as a prosecution witness at the forthcoming trial for the Trump Organization, per AP.

These were the 15 counts:

One count of scheme to defraud in the first degree. One count of conspiracy in the fourth degree. One count of grand larceny in the second degree. Four counts of criminal tax fraud in the third degree. Four counts of offering a false instrument for filing in the first degree. Four counts of falsifying business records in the first degree.

This has to be a pretty big deal for the Trump org, I've been wondering for years if Weisselberg would be turned witness or stay loyal till the end and it looks like we've finally got the answer.

amiatthetop3 on August 18th, 2022 at 15:56 UTC »

Why would prosecutors only agree to 5 months in prison with 15 felonies if he's not even ratting out Trump?