Trump Organization Financial Chief Allen Weisselberg has pleaded guilty to 15 charges, which could also put the family business of former US. President Donald Trump and his children in a tight spot.
Weisselberg has been charged, among other things, with committing tax evasion over a period of 15 years by using off-the-book payments: mainly perks such as leased cars, residences and private schools, which are considered non-taxable income. The 75-year-old chief financial officer (CFO) pleaded guilty to the charges on Thursday.
As part of his plea bargain, Weisselberg gets off with a five-month jail term and will be required to pay about $2 million in tax arrears. In addition to this, the CFO, who has worked for Trump since the 1980s, will need to testify against his company, the Trump Organization, which faces 14 charges.
That trial will begin on 24 October and Trump's company risks heavy fines if found guilty.
The Trump Organization has hotels, golf courses and vacation homes throughout the world. The former president earlier dismissed the charges as a "witch-hunt" by radical left-wing Democrats and "judicial misconduct."