Former Trump Organization Chief Financial Officer Allen Weisselberg pleaded guilty Thursday to 15 counts of fraud and tax evasion, acknowledging his role in a multiyear scheme to avoid paying taxes on more than $1.7 million of his income.
Weisselberg, 75, entered a plea deal tied to his indictment by the Manhattan District Attorney’s Office investigating former President Donald Trump‘s companies. It does not ask Weisselberg to assist in a larger investigation related to Trump, and the deal also will not implicate Trump.
Under the terms of the plea deal, Weisselberg received a five-month jail term and five years of probation, and with time granted for good behavior, he is expected to serve around 100 days behind bars.
Weisselberg pleaded guilty to the following criminal charges laid out in the indictment: conspiracy, scheme to defraud, grand larceny, criminal tax fraud, falsifying business records, and offering a false instrument for filing.
“Yes, your honor,” Weisselberg told Judge Juan Merchan 15 times as his charges were laid out.
Prosecutors also said Weisselberg would be required to pay back $1,994,321 in taxes he owed. If Weisselberg violates the plea deal, such as failing to testify truthfully or lapses on repaying his taxes, he could be sentenced between 5 to 15 years.
The Trump Organization granted untaxed corporate perks to Weisselberg for years, in forms including large tuition payments for his grandchildren at a distinguished Manhattan private school, as well as a luxury vehicle and an upscale apartment in New York City.
Weisselberg and the Trump Organization were indicted by a New York grand jury on June 30 last year.
The organization itself has not pleaded guilty, and the former CFO is the only person thus far to face criminal charges in the Manhattan district attorney’s long-running investigation into the company’s business practices.
Additionally, the former CFO agreed to testify in a trial against the Trump Organization, which is slated for jury selection on Oct. 24.
