Longtime chief financial officer to former president Donald Trump’s company, Allen Weisselberg, will give evidence against his employer if called to testify in the upcoming tax fraud trial against the company.
Weisselberg is expected to say he conspired with the companies to commit tax fraud, and enter a plea of guilty.
Weisselberg, a veteran of the Trump universe who has worked for the Trump Organization since the days of the ex-president’s father, Fred Trump, has reportedly agreed to testify against The Trump Corporation and the Trump Payroll Corporation when the two companies go on trial in October.
The Trump Organization accountant will provide testimony at the trial. His testimony is expected to be basically identical to the statement he will make in open court today when he is expected to plead guilty to multiple violations of New York tax laws.
The Manhattan District Attorney Office prosecutors hope that ’Weisselberg’s testimony against the Trump companies could help secure convictions against the company.
If there is a conviction against the company, it could result in massive fines that could bankrupt Mr Trump’s family business.
Last year, both Weisselberg and the two companies were indicted for what prosecutors called a “sweeping and audacious illegal payment scheme” in which Weisselberg received massive generous benefits.
This included free rent, two leased luxury cars, and private school tuition paid by the companies but did not report any such perks as income as required by law.
Nor did the company report the benefits afforded to Weisselberg as compensation for tax purposes.
The indictment says that the Trump Organization also paid for massive amounts of the accountant’s personal expenses, on top of all of the other luxuries given to him, including paying for his homes and an apartment maintained by one of his children, as well as furnishings for those homes, like beds, flat-screen televisions, carpeting, and furniture.
The untaxed compensation is expected to be worth at least a whopping $1.7 million.