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.
Weisselberg, 75, was accused of being paid 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.
Under the plea deal, Weisselberg detail the Trump Organization’s 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.
He is expected to be sentenced to about five months in jail and required to 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.
The Trump Organization faces similar charges.