Weisselberg testified in the company’s criminal trial on Friday that Eric Trump offered the Trump Organization CFO Allen Weisselberg a $200,000 bonus in 2019 despite understanding that Weisselberg had been committed tax fraud by moving pay off the books and fabricating his W2 tax forms.
In New York City, a tax evasion case against the former president’s name-brand real estate firm is being heard. Weisselberg, who pleaded guilty in August to evading roughly $2 million in income taxes, is accused of acting as the company’s “high management agent,” according to the prosecution.
Weisselberg, who is cooperating with the prosecution as part of a plea agreement, claimed on Friday that Eric Trump, who oversaw the Trump Organization while his father was president, discovered in 2017 that the business had been paying Weisselberg’s rent and other expenses and that Weisselberg had failed to disclose the payments on his W2.
Weisselberg previously said that when Donald Trump was elected president, the business started to “clean up” its financial operations in the same year.
Weisselberg said that once the Trump Organization ceased covering his rent, vehicle lease, grandchildren’s education, and other personal obligations, he requested and was given a $200,000 increase to replace the costs.
This, according to the prosecution, revealed that the business approved of Weisselberg’s criminal actions.
Did the business continue to pay you a total of $1.14 million after you were accused of 15 offenses in this case in July 2021? questioned prosecutor Susan Hoffinger.
Correct, said Weisselberg.
Source: Rebecca Blackwell
When questioned by the defense’s Susan Necheles, Weisselberg said that Donald Trump’s support for him is not implied by his ongoing employment.
“Do you really think that means he approves of what you did?” Nechéles enquired.
Correct, said Weisselberg.
“And this is the worst time of your life, am I right?” Nechéles enquired.
Weisselberg said, “I would say sure.
And he hasn’t thrown you out on the street? Nechéles enquired.
He hasn’t, Weisselberg said in response.
Weisselberg previously stated in testimony that he made restitution to the Trump Organization by telling Jeff McConney, the company controller, to lower his pay and bonus by the same amount as the benefits he was receiving.
Weisselberg, however, was made aware by Hoffinger of how the Trump Organization had benefited from the way in which the tax scheme had been carried out.
Weisselberg acknowledged that by reducing his pay by the amount of the fringe benefits he received illegally, the business “would save the payroll taxes.”
On November 17, 2022, in New York City, former CFO Allen Weisselberg returns to the courtroom following a lunch break during a trial at the New York Supreme Court.
Image by Michael M. Santiago via Getty
However, the defense attempted to downplay the savings by claiming that over an eight-year period, the business spent more than $53,000 on flowers and $2.5 million on telephone services.
To comply with the terms of his plea agreement and receive a five-month sentence, Weisselberg must testify honestly; otherwise, he faces a sentence of five to 15 years in prison.
Alan Futerfas, the defense attorney, pointed at the prosecutors and said, “You have to make these people happy.
Weisselberg retorted, “I have to be honest.