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Former Trump organisation executive pleads guilty in tax evasion case

Former Trump Organization executive Allen Weisselberg pleaded guilty on Thursday to evading taxes

Law & Order, Court order

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Former Trump Organization executive Allen Weisselberg pleaded guilty on Thursday to evading taxes.
Weisselberg, 75, admitted to 15 felonies arising from a scheme to avoid paying taxes on lavish perks.
"Manhattan District Attorney Alvin L Bragg, Jr. today announced the guilty plea of ALLEN Weisselberg, 75, the Chief Financial Officer of the Trump Organization and an employee of the Trump Corporation - for devising and operating a 15-year scheme to defraud federal, New York State, and New York City tax authorities, evading payment of taxes due on USD 1.76 million in unreported income," Manhattan District Attorney Alvin's office said in a press statement.
In his plea allocution in Court, Weisselberg admitted that he engaged in the scheme to defraud together with his co-defendants, the Trump Corporation and the Trump Payroll Corp, specifically implicating the Trump Organization in the criminal charges.
During the scheme up until 2017, former President Donald J. Trump was President and owner of the Trump Organization.
"The Court promised Weisselberg a sentence of five months in jail to be served on Rikers Island and five years' probation, contingent on Weisselberg testifying truthfully in the upcoming criminal trial of the Trump Organization by providing truthful testimony as to the facts underlying his allocution and plea. Jury selection in the Trump Organization trial is scheduled to begin October 24th," Alvin's office statement said.
Weisselberg is required to testify at a trial against the Trump Organization later this year as part of a plea deal with the Manhattan district attorney's office.
Under the terms of the plea deal, Weisselberg is expected to receive a five-month jail term and must pay nearly 2 million U.S. dollars in taxes.
The Trump Organization has been accused of aiding Weisselberg and others in avoiding income taxes by failing to report their accurate compensation.
The company has tried to get the charges dismissed, claiming that they were politically motivated. Former US President Donald Trump is not charged in this case.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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First Published: Aug 19 2022 | 10:59 AM IST

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