Trump Organization finance chief Allen Weisselberg appears in a New York court after turning himself in to authorities on July 01, 2021 in New York City.
Photo by Seth Wenig-Pool/Getty Images
Donald Trump’s former CFO will admit in Manhattan on Thursday that he conspired to dodge payroll taxes on $1.7 million in income over 15 years.
Allen Weisselberg will serve only 5 months jail, and may be required to testify against the Trump Organization, a source told Insider.
But Weisselberg has nothing incriminating to say against anyone named Trump, the source stressed.
The Trump Organization’s ex-chief financial officer Allen Weisselberg will plead guilty on Thursday to a company tax-dodge scheme in a low-jail deal with the Manhattan District Attorney’s office, Insider has learned.
Under the deal, Weisselberg will agree before a judge to testify against his co-defendant, the Trump Organization, when the tax-dodge indictment goes on trial; an October 24 trial date was set on Friday.
But a source with knowledge of the deal stressed to Insider that Weisselberg has nothing incriminating to say about anyone with the last name of Trump and if called to testify, would tell a jury just that.
In return for his admission of guilt and potential testimony, Weisselberg, 75, will serve 5 months on Rikers Island — 100 days, the source said, describing the deal.
It’s a good outcome considering that the top grand larceny charge for allegedly pocketing thousands in fraudulently-obtained federal tax refunds usually carries a mandatory minimum sentence of one year behind bars — and a possible maximum sentence of 15 years.
Weisselberg, the longtime top executive for the Trump Organization, was expected to plead guilty in a deal. He and the organization face 15 felony counts that include scheme to defraud, conspiracy, and grand larceny.
The charges came from a “sweeping and audacious payment scheme,” prosecutors have said, where Weisselberg skirted paying taxes for up to $1.7 million of his income beginning in March 2005.
This story is developing. Please check back for updates.