Former Trump Organization CFO Allen Weisselberg has entered into a plea agreement and will help authorities look into the former president’s finances.
According to people with knowledge of the case, Weisselberg, 75, has reached a plea agreement and will plead guilty to 15 felony tax charges at a hearing in Manhattan state court on Thursday.
As part of the plea deal, which was initially suggested earlier this week, he is also required to testify against former President Donald Trump, the source said.
People familiar with the matter said that as part of the plea deal, Weisselberg would have to testify in court on Thursday regarding the company’s role in the alleged compensation scheme and might be called as a witness when the Trump Organization goes to trial in October on similar charges.
The two individuals who spoke on condition of anonymity were not authorized to discuss the subject publicly.
According to the sources, Weisselberg, 75, would likely be given a five-month prison term to be served at New York City’s infamous Rikers Island facility, and he may be ordered to pay around $2 million in restitution, which would include taxes, penalties, and interest. This means that Weisselberg might be released from prison in around 100 days if the sentence is upheld.
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The Manhattan district attorney’s office, Weisselberg, and Trump Organization legal counsel were both reached out to for comment, but neither responded.
In the Manhattan district attorney’s protracted probe of the company’s business practices, Weisselberg is the only person to face criminal charges to yet.
Weisselberg, one of Trump’s most trusted financial partners, was taken into custody in July 2021. His legal team claims he is being punished by the Democrat-led district attorney’s office for refusing to testify against Trump.
The district attorney is looking into whether or if Trump or his corporation misled financial institutions or the government about the value of its properties in order to secure loans or lower tax obligations.