Trump Org CFO Allen Weisselberg has pleaded guilty to 15 felonies - admitting that he conspired with other Trump Organization executives to carry out a tax-avoidance scheme connected to lavish corporate benefits - including lease payments for a luxury car, rent for a Manhattan apartment and private tuition for his grandchildren.
As part of the deal, he has agreed to testify against the Trump Organization in an October trial - however he has refused to implicate Donald Trump in any wrongdoing. The company is accused of helping Weisselberg and other executives dodge taxes by failing to accurately report their full compensation to the IRS.
As Bloomberg notes, "Trump hasn’t been charged in the case and, according to a person familiar with the matter, Weisselberg won’t implicate his boss as part of his plea. But because Weisselberg’s deal requires him to testify against his employer, an admission of criminal conduct could mean trouble for the Trump Organization, experts say."
If convicted, the Trump Organization could face fines or potentially be placed on probation.
Weisselberg, the only person to face criminal charges so far in the Manhattan DA's case against Trump's business empire, will receive a five-month jail term at Rikers Island and five years of probation, however time credited for good behavior he's likely to serve around 100 days, according to the NY Times. He also has to pay nearly $2 million in taxes, penalties and interest.