Trump’s longtime chief financial officer, Allen Weisselberg, has been jailed for five months for tax evasion
The Trump Organization’s longtime chief financial officer, Allen Weisselberg, has been sentenced to five months in prison for evading taxes on $1.7 million in job perks.
The 75-year-old will be serving his sentence on New York City’s notorious Rikers Island after admitting the 15-year scheme that saw executives receive bonuses and perks in lieu of a higher salary in order to make huge sums of money for the company and themselves save on taxes.
Perks provided by the company included rent for his Manhattan apartment, car leasing for him and his wife, and private school tuition for his grandchildren.
Weisselberg pleaded guilty in August after paying nearly $2 million in taxes, penalties and interest and testifying at the criminal trial against the Trump Organization, which was convicted on all charges.
In return for his testimony, he was offered a five-month prison sentence as part of a plea deal.
The Trump Organization’s longtime chief financial officer, Allen Weisselberg, has been sentenced to five months in prison for evading taxes on $1.7 million in job perks. He is pictured in a Manhattan courthouse on Tuesday before being put behind bars
Weisselberg went to court with his lawyer in a fleece jacket and pants as he prepared to face jail for financial crimes
Many New York City convicts facing a year or less behind bars are moving to Rikers Island, which lies between the New York boroughs of Queens and the Bronx and is home to more than 5,900 inmates.
Weißelberg will be released after just three months if he behaves behind bars. He has to complete a five-year probationary period if he’s free.
These days will probably not be easy for Weißelberg in a prison known for violence, drugs and corruption. Nineteen inmates there died last year.
“You’re going into a Byzantine black hole,” said Craig Rothfeld, a prison counselor who is helping Weisselberg prepare for incarceration.
Rothfeld spent more than five weeks at Rikers in 2015 and 2016 as part of an 18-month sentence for fraud against investors and tax authorities while he was CEO of the now-defunct WJB Capital Group Inc.
He now runs Inside Outside Ltd, which advises people at risk of imprisonment. Another client is Harvey Weinstein, the former Hollywood film producer who was twice convicted of rape.
After his conviction, Weisselberg will likely be driven to Rikers and his street clothes exchanged for a uniform and Velcro sneakers.
Rothfeld said he hopes Weisselberg will be separated from the general population and not placed in a dormitory with inmates who may not know him but know his boss, who is seeking the presidency in 2024.
“The 50-year relationship between Mr. Weisselberg and the former president is on our minds,” Rothfeld said.
A spokesman for the city’s Corrections Department said the agency’s mission is to “provide a safe and supportive environment for everyone who comes into our care.”
Rikers is scheduled to close in 2027.
Weisselberg pleaded guilty in August after paying nearly $2 million in taxes, penalties and interest and testifying at the criminal trial against the Trump Organization, which was convicted on all charges
Weisselberg, the Trump Organization’s former chief financial officer, pleaded guilty in August, admitting that he and other executives received bonuses and perks from 2005 to 2017 that saved the company and themselves money. Pictured: Weisselberg is pictured with President Trump in the lobby of Trump Tower in New York City in January 2017
After his conviction, Weisselberg will likely be driven to Rikers Island Jail (pictured) and his street clothes exchanged for a uniform and sneakers with Velcro straps
Weisselberg was the government’s star witness against his employer.
He told jurors that Trump signed bonus and tuition checks and other documents at the center of the prosecution’s case, but was not involved in the tax fraud scheme.
Although Weisselberg is no longer CFO, he remains on paid leave from the Trump Organization. He testified in November that he hopes to get a $500,000 bonus this month.
Weisselberg testified that the company pays its lawyers. It also pays Rothfeld, said a person familiar with the matter. Rothfeld declined to comment.
Trump has not been charged and has denied wrongdoing. The Manhattan Attorney’s Office is still investigating his business practices.
Merchan will also condemn the Trump Organization on Friday. Penalties are capped at $1.6 million.
Weisselberg remains a defendant in New York Attorney General Letitia James’ $250 million civil lawsuit alleging that Trump and his company inflated Trump’s assets and fortune.
Rothfeld said he advised Weisselberg not to go outside to Rikers and not to interfere in conversations between other inmates because of the risk of violence in yards. “The goal is to keep to yourself,” said Rothfeld.
https://www.dailymail.co.uk/news/article-11620289/Trumps-longtime-CFO-Allen-Weisselberg-gets-five-months-jail-tax-dodging-scheme.html?ns_mchannel=rss&ns_campaign=1490&ito=1490 Trump’s longtime chief financial officer, Allen Weisselberg, has been jailed for five months for tax evasion