Former Trump Organization chief financial officer Allen Weisselberg pleaded guilty Thursday to his role in a 15-year-long tax fraud scheme, and as part of the deal, he has agreed to testify against former President Donald Trump’s real estate company at trial, multiple news outlets reported.
During a court hearing on Thursday, Weisselberg pleaded guilty to 15 felonies and admitted he failed to pay taxes on $1.7 million in income, including luxury perks, such as rent and utilities for a Manhattan apartment, leases for a pair of Mercedes-Benz cars and private school tuition for his grandchildren.
When the judge Juan Merchan asked him if he was pleading guilty of his own choice, Weisselberg replied, “Yes, your honor.”
Weisselberg also admitted to concealing those benefits from his accountant to under-report his income and knowingly omitting the income from his personal tax returns, CNN reports.
As part of the deal, he will pay nearly $2 million in back taxes, interest and penalties and waive any right to appeal, according to The Hill.
Judge Merchan said Weisselberg would be sentenced after the Trump Organization’s trial. He said the agreement was for a five-month sentence to be followed by five years of probation.
The judge warned Weisselberg if he does not meet all the conditions of the plea agreement, “I would be at liberty to impose any lawful sentence which in your case includes imprisonment from 5 to 15 years.”
The guilty plea puts him at odds with the Trump Organization, where he worked for 40 years, and his testimony could cripple the company, if it goes to trial on related tax evasion charges as scheduled in October.