Former longtime Trump CFO Allen Weisselberg nears low-jail plea in New York; Trump Organization could still face trial

Former president Donald Trump is pictured with his former CFO Allen Weisselberg
Former president Donald Trump with his former CFO Allen Weisselberg at Trump Tower in 2017.Evan Vucci/AP
  • Trump Org CFO Allen Weisselberg is nearing a plea deal with Manhattan prosecutors, The New York Times reported.

  • Weisselberg, 75, would serve just 5 months and won't flip against his old boss Donald Trump, per The Times.

  • Prosecutors would have to drop a grand larceny charge carrying a mandatory minimum of one year in jail.

A longtime top executive at the Trump Organization is nearing a sweetheart plea deal with the Manhattan District Attorney's office that could require that he serve just five months jail and not have to cooperate against his boss or the business, The New York Times reported Monday.

Allen Weisselberg, 75, is the Trump family's bookkeeper and the ex-CFO at the Trump Organization, former president Donald Trump's multi-billion-dollar real estate and golf resort company.

The deal described by The Times would be a far cry from the harsher penalties originally threatened by prosecutors — including no less than one year in jail — in announcing his indictment last summer in an alleged 15-year payroll tax-dodge scheme.

Weisselberg and the Trump Organization are charged with 15 felony counts, including scheme to defraud and grand larceny. Prosecutors allege Weisselberg and other unindicted company executives orchestrated a scheme that allowed him to avoid taxes on $1.7 million worth of income.

The grand larceny count accuses Weisselberg of improperly pocketing thousands of dollars in federal tax refunds and carries a mandatory minimum of no less than one year jail.

Prosecutors would have to agree to drop that charge before they could recommend Weisselberg serve just five months.

The deal would spare the Manhattan DA from the high-profile potential spectacle of trying a steadfast Trump loyalist for allegedly accepting untaxed perks as income, including an apartment, his-and-hers Mercedes for him and his wife, and tuition for his grandchildren.

The Times report gave no indication of whether a deal is in the works for the Trump Organization, which could face fines and restitution if convicted in the scheme.

Manhattan prosecutors had attempted to "flip" the longtime Trump executive as part of its now-stalled, three-year investigation into possible financial wrongdoing by Trump and his company.

But sources told The Times that Weisselberg has remained uncooperative, and instead is negotiating a plea deal.

An attorney for Weisselberg declined to comment. The Manhattan DA did not immediately respond to a request for comment.

A judge scheduled a hearing on Thursday for Weisselberg's case, during which a plea could be entered, The Times reported.

"His plea deal, if finalized, would bring prosecutors no closer to indicting the former president but would nonetheless brand one of his most trusted lieutenants a felon," The Times report said.

Read the original article on Business Insider