Trump ex-CFO Weisselberg guilty of tax evasion: What that means
The former chief financial officer of Donald Trump's family business will receive a five-month sentence after he pleaded guilty to tax fraud charges stemming
The former chief financial officer of Donald Trump's family business will receive a five-month sentence after he pleaded guilty to tax fraud charges stemming from a case involving the company's business dealings.
Allen Weisselberg was accused of failing to report and pay taxes on numerous fringe benefits he'd received while he was employed by the Trump Organization. Some of those benefits included cash to be used for trips, a rent-free apartment, expensive cars, private school tuition for his grandchildren and new furniture.
Ex-Trump Org. CFO Allen Weisselberg pleads guilty to criminal chargesAug. 18, 202201:29It's the kind of case that illustrates how expensive gifts received by an employee can lead to trouble when those perks aren't properly reported to the IRS. And the case against Weisselberg, who admitted to participating in the alleged tax scheme with the Trump Organization for 15 years, is an extraordinary example, featuring a longtime high-ranking employee of a former U.S. president.
Weisselberg’s blatant failure to report perks he received while he worked for Trump's family business made the government’s case clear-cut, said Daniel Hemel, a tax law professor at the New York University School of Law.
“These items are described as fringe benefits," Hemel said. "There’s not a fuzzy line when it comes to reporting them. This was just clearly tax fraud.”
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