The criminal tax-fraud trial of the Trump Organization begins on Monday, and the outcome could impact more than the coffers of former President Donald Trump’s family business.
against Trump, his three oldest children, the Trump Organization, and senior management in the company including Weisselberg, alleging that they were involved in efforts to falsely inflate Trump’s assets by billions of dollars in order to mislead lenders and secure more favorable loans. James says that her office is cooperating with the Manhattan DA’s office and has also referred their findings to the U.S.
Prosecutors say the scheme’s goal was to compensate Trump Organization executives in ways that were “off the books,” meaning large segments of their income were unreported or misreported to tax authorities. This allegedly allowed certain executives to pay significantly less federal, state, and local taxes than they should have.
Weisselberg is not cooperating with prosecutors in the broader ongoing investigation into Trump’s business dealings. But Bragg has said that Weisselberg’s plea requires him to provide “invaluable” testimony against the business entities in exchange for his lighter sentence. If he doesn’t testify truthfully, he risks up to 15 years in prison.
As the company’s longtime CFO, Weisselberg is in a position to testify about whether officials within the Trump Organization had criminal intent behind their alleged actions, as opposed to making mistakes, says McQuade. Such testimony could implicate other corporate officers. When Weisselberg pleaded guilty on Aug. 18, he named the Trump Organization’s longtime controller Jeff McConney as an executive with whom he conspired.
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