Longtime Trump CFO Allen Weisselberg pleads guilty to tax fraud charges

Allen Weisselberg, the longtime chief financial officer of the Trump Organization, pleaded guilty to tax fraud charges in Manhattan on Thursday as part of a deal that will require him to testify about business practices at former President Donald Trump’s real estate company.

The 75-year-old was charged with accepting more than $1.7 million “off the books” by Trump’s company over the years to avoid taxes, including perks like free rent at a Manhattan apartment, luxury cars, and tuition payments for his grandchildren.

Weisselberg’s defense attorney Nicholas Gravante Jr. told Manhattan state court on Thursday that the longtime Trump confidante would enter the guilty plea in exchange for a promised sentence of five months in jail.

Prosecutors said the plea deal would require Weisselberg to testify about the Trump Organization’s alleged role in the illegal compensation scheme and could ultimately serve as a witness when the real estate business goes to court in October on criminal charges.

“If he doesn’t testify truthfully in the upcoming trial, a significant state prison term may be imposed, the maximum is 5 to 15 years,” District Attorney Joshua Steinglass told the court.

Under the terms of the plea deal, Weisselberg will also be on probation for five years and pay a fine of about $2 million.

Jury selection in the case was set to begin on Weisselberg’s case on Oct. 24, but he made an unexpected appearance in Manhattan state court on Monday, sparking speculation that he was working out a plea deal with prosecutors.

Weisselberg was charged in July 2021 on charges of tax fraud, conspiracy, grand larceny, and falsifying business records.