Posted on 08/17/2022 11:07:33 PM PDT by Berlin_Freeper
Donald Trump’s chief financial officer is expected to plead guilty to tax violations Thursday in a deal that would require him to testify about illicit business practices at the former president’s company, two people familiar with the matter told The Associated Press.
Allen Weisselberg is charged with taking more than $1.7 million in off-the-books compensation from the Trump Organization over several years, including untaxed perks like rent, car payments and school tuition.
The plea deal would require Weisselberg to speak in court Thursday about the company’s role in the alleged compensation arrangement and possibly serve as a witness when the Trump Organization goes on trial in October on related charges, the people said.
The two people were not authorized to speak publicly about the case and did so on condition of anonymity.
Weisselberg, 75, is likely to receive a sentence of five months in jail, to be served at New York City’s notorious Rikers Island complex, and he could be required to pay about $2 million in restitution, including taxes, penalties and interest, the people said. If that punishment holds, Weisselberg would be eligible for release after about 100 days.
(Excerpt) Read more at apnews.com ...
After 6+ years, they still throwing sh*t against the wall hoping something sticks.
“could” as stated in the headline smacks of all the propaganda stories I read about Ukraine every day.
Every step of the way....it leads to someone else who signed the checks and opened new doors. Trump will be found to have signed no documents or checks. It’s a hundred year mystery that they are revealing, never connecting Trump.
oooooooooooooooo
1. If your employer gives you perks like a car or an apartment for personal use, you are supposed to report the monetary value of these perks on your tax return. This guy didn’t do that.
2. The employer is also required to file a document with the IRS — a 1099 form or similar — which notifies the IRS that this was given to you. The Trump Organization apparently failed to do this.
Here’s the thing that makes this so silly: As the company’s CFO, it would have been this guy’s responsibility to ensure that the tax documents were properly filed.
So the end result of this whole charade may be that this guy Weisselberg ends up being a perfect DEFENSE witness in New York’s case against the Trump Organization.
Chump change for tax cheats like Maxine Waters.
Correct. He was the sole grantor and beneficiary of these perks.
In a business as large as the Trump brand, the owner actually only talks to his exec staff and stays layers away from the daily details. The prosecutors could never find audio video or paper proving Trump made the decision to not report an apartment. This is harassment.
Thank you for the summation.
It’s perfectly normal for a company to provide apartments for its employees to use when they are traveling for company business. It’s no different than the company reimbursing the employee for the cost of a hotel bill when the employee travels while on company business.
That’s originally what happened with the Trump Organization and its CFO. The guy lived in the Hamptons, and used the apartment when he traveled to New York City for several days at a time.
What made this a tax problem was when the CFO sold his home in the Hamptons, and the company-paid apartment in NYC became his primary residence.
So now the Trump Organization has TWO defenses in the case:
1. “It was the CFO’s responsibility to file the proper tax forms.”
2. “The company-paid apartment became a taxable benefit when he sold his home and moved into the apartment permanently. He never told us that the apartment had become his primary residence.”
I wonder how much the book keeper stole from Trump organization, which causes him to like shelter himself behind the pinions of the Democrat Marxists.
The problems for Letitia James is she has yet to prove there were any illicit business practices by Trump or his company. The whole tax fraud gambit failed miserably.
Her other problem is that everybody knows she’s not legitimate. She literally campaigned on a “Get Trump at all costs” and “Get the NRA at all costs” platform. Everybody knows justice is not what she is after and they cannot trust anything she says about either Trump or the NRA.
As if there aren't 50 million other corporate employees that didn't add a tuition reimbursement or some other minor accommodation, a free lunch, into their taxable income.
True. The CFO and the outside auditors shared that responsibility. I’ve been in both of those roles.
Every year, when the CPA firm gave the Trump organization a “clean” opinion, it was based on exhaustive testing of internal control procedures and statistical sampling and analysis of transactions. Large transactions and a samplings of smaller transactions are scrutinized and confirmed with third parties.
So, if they find something now, it will be either the CFO’s fault for deceiving the CPAs, or the CPAs’ fault for failing to detect and correct an internal control weakness.
Much of the reason for having a CFO and ALL of the reason for hiring a CPA firm is to protect the Board (the Trumps) from liability, by preventing illegal transactions and misrepresentation of financial transactions.
If I recall correctly, this $1.7 million is over something like 15 years. In an organization as large as Trump’s, this is almost nothing. We are witnessing persecution by the government for purely political reasons.
This is a Witch Hunt... The Fng Govt. Never “went after” The Clinton “Foundation”...
Virtually every irs action has the direct or indirect but at least secondary objective to intimidate all other tax payers.
“Be very careful. This happened to him and it could happen to you.”
Weisselberg is charged with taking more than $1.7 million in off-the-books.
As the Biden’s and Clintons call it parking meter change.
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