Ex-Trump CFO Allen Weisselberg slated for sentencing
Former exec turned star witness expected to serve 5 months after tax fraud trial
By: TRD Staff
Former Trump Organization CFO Allen Weisselberg (Photo Illustration by Steven Dilakian for The Real Deal with Getty)
Former Trump Organization chief financial officer Allen Weisselberg will be sentenced on Tuesday after pleading guilty to a 15-year tax fraud scheme.
Weisselberg is expected to be sentenced to five months in jail in accordance with his August guilty plea, Reuters reported. The executive, who remains on paid leave from the Trump Organization despite turning into a star witness for the government in its trial, may be remanded to the Rikers Island jail complex.
Weisselberg may only serve up to 100 days with time off for good behavior. The Trump Organization is footing the bill for a prison consultant who has helped Weisselberg prepare for time behind bars.
The former CFO is also required to pay about $2 million in taxes, penalties and interest as part of his expected penalty in exchange for his testimony. NBC News noted he could be subject to additional time behind bars if he didn’t testify truthfully, but t here’s been no public indication of deceit.
Weisselberg said in the trial he and other executives received perks and bonuses, gaining some as independent contractors, which helped the company save money on payroll taxes, beginning in 2005. Weisselberg claimed Trump signed bonus and tuition checks, but wasn’t involved in the long-running tax scheme.
Last month, a jury found affiliate companies of the Trump Organization guilty of nine counts of tax fraud and related crimes, concluding a six-week trial. The company is set to be penalized on Friday, although penalties are capped at $1.6 million.
The former president was not accused of wrongdoing in the case, but remains dogged by both criminal and civil investigations, including a $250 million civil lawsuit from New York Attorney General Letitia James, alleging inflated asset values of his companies portfolio.
— Holden Walter-Warner