Allen Weisselberg departs from criminal court in New York on Aug. 12. Photo: Victor J. Blue/Bloomberg via Getty Images
Former Trump Organization CFO Allen Weisselberg on Thursday pleaded guilty to tax violations and admitted to helping run a years-long tax fraud scheme at the former president’s business.
Why it matters: Weisselberg's testimony may put him front and center at a future trial in the criminal case against the Trump Organization, where he will have to testify about his role in the elaborate scheme.
Driving the news: Weisselberg on Thursday admitted to all 15 felonies that prosecutors in the Manhattan district attorney’s office accused him of, but steered away from Trump and his family.
- Weisselberg has refused to cooperate with prosecutors in their investigation into Trump and his family, the New York Times notes.
The big picture: Last year, the Manhattan district attorney’s office charged Weisselberg and the Trump family business for taking more than $1.7 million in "off the books" compensation from the organization.
Details: Under the terms of the plea deal, Weisselberg, who was facing up to 15 years in prison, will serve five months as well as five years of probation, AP reported.
- With time credited for good behavior, he is expected to be in prison for about 100 days, the New York Times reported.
- Weisselberg must also pay nearly $2 million in taxes, penalties and interest, per AP.
Under the plea deal, Weisselberg must also testify as a prosecution witness at the forthcoming trial for the Trump Organization, per AP.
- Prosecutors alleged that the scheme allowed Weisselberg to skirt paying taxes on rent and private school tuition, per the Times.
- Weisselberg, 75, is the only person facing criminal charges so far in the investigation into the Trump organization's business practices.
- Weisselberg and the Trump Organization have tried to get the charges dismissed, claiming they were politically motivated.
What to watch: A judge last week denied a request to dismiss the Manhattan tax fraud case against the Trump Organization and Weisselberg, allowing the case to move forward to a trial in October.
Go deeper... Judge denies Trump Organization attempt to dismiss tax fraud case
Editor's note: This story has been updated with additional details.