Trump Organization chief financial officer Allen Weisselberg pleads guilty to tax fraud
On Thursday, the long-time chief financial officer of the Trump Organization, Allen Weisselberg, pleaded guilty to all 15 counts leveled against him in a 2021 grand jury indictment. He did so as part of a plea deal reached with Democratic Manhattan District Attorney Alvin Bragg.
Weisselberg, in an admission that implicates his life-long employer, pleaded guilty to engaging in a criminal conspiracy with an unindicted co-conspirator and the Trump Organization to “defraud federal, New York state, and New York City tax authorities.”
The charges to which Trump’s “money man” pleaded guilty include: conspiracy, grand larceny, criminal tax fraud and falsifying business records. The total value of compensation that Weisselberg received but did not report to the government was over $1.7 million from 2005 through 2021.
Instead of going to trial and risk spending the rest of his life in prison, Weisselberg pleaded guilty to overseeing an “off the books” operation at the Trump family companies. The scheme centered around keeping separate accounting books to hide payments and gifts given to Weisselberg, and others, in order to avoid paying taxes.
The indictment alleged that the CFO failed to report his extra compensation to the Internal Revenue Service. While this compensation was not reported on Weisselberg’s W-2 tax forms, it still figured into Trump Organization business expenses for the purpose of securing tax benefits for the companies.
The “gifts” that went unreported included rent payments for luxury apartments; lease payments on two Mercedes-Benz vehicles; home furnishings, including furniture and flat-screen televisions; monthly cable television bills; high-priced private schooling for his grandchildren; and generous holiday bonuses.
Weisselberg admitted to hiding from the IRS $359,058 used for tuition expenses for multiple family members, $196,245 on Mercedes-Benz automobile leases, and $29,400 in cash bonuses.
When the indictment was initially issued against Weisselberg last summer, ex-President Donald Trump released a statement defending the fraudulent practices of his employee as “standard practice” in the “US business community, and in no way a crime.”
Trump is not incorrect. The criminality in which his CFO and his companies routinely engaged is common among all major US corporations and financial institutions. Billionaires, from Trump to Tesla CEO Elon Musk and Amazon’s Jeff Bezos, hire teams of accountants and lawyers to “legally” and illegally hide their earnings and compensation packages in order to skimp on paying taxes, while at the same time claiming massive paper losses to the IRS in order to reap generous tax benefits.
This type of financial chicanery is common among the ruling elite in all capitalist countries, but is perhaps most pervasive in the United States, home to over 735 billionaires, according to Forbes, who are collectively worth more than $4.7 trillion. According to figures from the Federal Reserve, the total wealth of the top 1 percent reached a record $45.9 trillion by the end of 2021, accounting for nearly 33 percent of all wealth in America.
The wealth of the top 1 percent increased by more than $12 trillion, or more than a third, since the beginning of pandemic, which has killed over 1.1 million Americans, overwhelmingly working class and poor.
At the end of the first quarter of 2022, the Federal Reserve reported that the top 1 percent saw a slight decline in their wealth, but still hoarded $44.92 trillion of the roughly $141 trillion in wealth produced in the US. Meanwhile, the bottom 50 percent of the country, over 160 million people, controlled only $3.92 trillion combined.
In seeking to have the case against Weisselberg and the Trump Organization dismissed, the defendants’ lawyers argued that the targeting of Weisselberg and Trump’s companies was politically motivated. Last week, Judge Juan Merchan rejected the defense’s dismissal motion, paving the way for the trial to begin this October.
Under the terms of his plea bargain, Weisselberg is expected to spend roughly 100 days at Rikers Island Prison in New York City, followed by five years of probation.
Then-Manhattan District Attorney Cyrus R. Vance, Jr. indicted Weisselberg last summer in an attempt to force him to turn state witness and testify against his boss, Donald Trump, as part of an ongoing criminal investigation into the Trump Organization.
Earlier this year, the two top prosecutors in that criminal investigation resigned after Bragg indicated that he did not see himself bringing charges against Trump without an inside source, such as Weisselberg, who would be willing to testify against Trump directly. While Bragg says that criminal investigation is still ongoing, it does not appear any charges will be forthcoming anytime soon.
Despite the serious charges facing Weisselberg, Manhattan prosecutors were not able to induce him to testify against the former president or any other member of the Trump family. Weisselberg’s loyalty to “the Don” was expressed in a statement released by the Trump Organization following the court proceedings.
It called Weisselberg “a fine and honorable man, who, for the past four years, has been harassed, persecuted and threatened by law enforcement, particularly the Manhattan district attorney, in their never-ending, politically motivated quest to get President Trump.”
The statement went on to say that Weisselberg “in an effort to put this matter behind him and get on with his life, decided that the best course of action— for himself and his family— was to plead guilty.”
The statement concluded: “The two Trump companies that the Manhattan DA has been targeting, however, will not be taking a plea for the simple reason that they have done nothing wrong. As a result, we now look forward to having our day in court, which, quite interestingly, has been scheduled for October 24— just days before the midterm elections.”
While Weisselberg refused to flip on Trump, his plea agreement does require him to testify against the Trump Organization at the civil trial that is scheduled to begin in October. In order to maintain leverage over Weisselberg, the government will not be sentencing him until after he testifies.
Another condition of Weisselberg’s plea agreement is that he pay nearly $2 million in back taxes, interest and other fines.
If the Trump Organization, which is facing 10 felony counts, is found guilty in the fall trial, no single person will go to jail— but the company could be forced to pay back taxes and fines, potentially crippling it.
At Thursday’s hearing, Weisselberg acknowledged that the fraud scheme was carried out in conjunction with Jeffrey McConney, the controller of the Trump Organization. McConney reported to Weisselberg and was granted immunity for his testimony, according to a CNN report. McConney is also the unindicted co-conspirator in the indictment.
Nicholas Gravante Jr., attorney for Weisselberg, said in statement after the hearing that the former Trump executive “decided to enter a plea of guilty today to put an end to this case and the years-long legal and personal nightmares it has caused for him and his family. Rather than risk the possibility of 15 years in prison, he has agreed to serve 100 days. We are glad to have this behind him.”
Defense lawyers for the Trump Organization will have their work cut out for them this fall. It will be difficult to convince a jury that the Trump family business is not a criminal enterprise when the government’s star witness will be the recently convicted former chief financial officer of the same organization.
Following the court proceedings, Manhattan District Attorney Bragg released a statement saying that the plea agreement “directly implicates the Trump Organization in a wide range of criminal activity and requires Weisselberg to provide invaluable testimony in the upcoming trial against the corporation.”
Trump Trolls New York Democrats with Sarcastic Endorsements
Former President Donald Trump trolled the Democrats on Wednesday by endorsing candidates in the party’s primary.
In several posts on his social media platform, the former president first mockingly endorsed lawyer Dan Goldman in his race for Congressional District 10 in New York, hailing him as the man who “headed up the Impeachment Committee and lost.”
“Lawyer Dan Goldman is running for Congress, NY-10, and it is my great honor to Strongly Endorse him,” Trump began. “I do this not because of the fact that he headed up the Impeachment Committee and lost, but because he was honorable, fair, and highly intelligent.”
“While it was my honor to beat him, and beat him badly, Dan Goldman has a wonderful future ahead,” the former president added. “He will be very compassionate and compromising to those within the Republican Party, and will do everything possible to make sure they have a fair chance at winning against the Radical Left Democrats, who he knows are destroying our Country.”
“I would like to thank Dan for fighting so hard for America, and for working so tirelessly to stop ‘Trump,'” he concluded. “He was not easy to beat, but winning against him made me realize just how very talented I am!”
The former president’s “endorsement” of Goldman can easily be interpreted as a satirical hit against the New York Times, which also endorsed Goldman in the Democrat primary last week, citing his “work on the impeachment trial” and his “close working relationships in Washington — an advantage that should help him deliver on the issues most important to New Yorkers, even as a new member of Congress.”
Goldman indeed represented Democrats during the first impeachment trial over Trump’s phone call with Ukraine.
As Insider noted, the New York Times received blowback and criticism for its endorsements, being that they were all “three white guys.”
“The spectacle of the Times endorsing three white guys was itself enough to draw attention, but capping it off by backing Goldman, a self-funding heir to the Levi Strauss fortune, has brought an unusual amount of attention to the paper’s endorsement process,” noted Insider.
Trump then directed his troll toward the fight between Rep. Jerry Nadler (D-NY) and House Oversight Chair Carolyn Maloney (D-NY), a race that ironically developed out of the Democrats’ botched gerrymandering efforts, forcing two top Democrats to compete against each other for a single seat.
“A vote for Carolyn Maloney in NY-12 is a vote for the future! She is a kind and wonderful person, who has always said terrific things about me, and will support me no matter what I do, just as I supported her very early on. She begged for a check with no quid pro quo, and I gave it to her. In fact, I gave her many,” the former president said.
“On the other hand, Jerry Nadler is likewise a hard-driving man of the people, whose energy and attention to detail is unlike anyone else in Congress,” he added. “He is high energy, sharp, quick-witted, and bright. You can’t go wrong with either, but Carolyn Maloney is the better man. She will lead our Country into a very GREEN and prosperous future. Carolyn has my Complete and Total Endorsement, she will never let our Conservative Movement down!”
Former Trump Organization CFO Allen Weisselberg Pleads Guilty to Tax Fraud
Former Trump Organization chief financial officer (CFO) Allen Weisselberg pleaded guilty Thursday to 15 counts of fraud and tax evasion, in a plea deal requiring him to testify against the company but not against former President Donald Trump.
Events in a federal courtroom in New York played out much as anticipated. As Breitbart News reported earlier this week:
Allen Weisselberg, the chief financial officer (CFO) of the Trump Organization, Donald Trump’s business empire, is expected to reach a plea deal with prosecutors in a tax fraud case that does not require him to testify against the former president.
…
The relatively minor allegations were anticlimactic, given the public determination of elected Democratic prosecutors to pursue Trump for whatever crime they could find. Trump himself was not accused of breaking the law, but prosecutors hoped to turn Weisselberg against Trump by pressuring him to testify against his former boss in other investigations.
That effort appears to have failed, with Weisselberg refusing to cooperate, and prosecutors reportedly considering a plea deal that could see the septuagenarian executive sentenced to as little as five months in jail, and eligible for early release after about 100 days.
CBS News added Thursday:
Weisselberg’s deal with prosecutors calls for a sentence of five months in New York’s Rikers Island jail, followed by five years’ probation. He must also pay $1.9 million in back taxes and fines, and must appear as a witness during the company’s trial to testify under oath. He has not agreed to provide any new or supplemental information about Trump or the company that bears his name, according to sources familiar with the matter.
Weisselberg was accused of receiving fringe benefits such as free rent, private school tuitions, and a car without reporting them to the IRS. The value of the benefits was estimated at a total $1.7 million over a period of 15 years. The company is also accused of failing to report the benefits, though Trump himself is not implicated.
Democrats celebrated the conviction, though it failed to reach the former president.
Joel B. Pollak is Senior Editor-at-Large at Breitbart News and the host of Breitbart News Sunday on Sirius XM Patriot on Sunday evenings from 7 p.m. to 10 p.m. ET (4 p.m. to 7 p.m. PT). He is the author of the recent e-book, Neither Free nor Fair: The 2020 U.S. Presidential Election. His recent book, RED NOVEMBER, tells the story of the 2020 Democratic presidential primary from a conservative perspective. He is a winner of the 2018 Robert Novak Journalism Alumni Fellowship. Follow him on Twitter at @joelpollak.
Liz Cheney’s Ouster a Major Loss for K Street Lobbyists — Her ‘Biggest Benefactors’
K Street lobbyists and lawyers lost a favorite lawmaker on Tuesday night when the Trump-backed candidate Harriet Hageman defeated Rep. Liz Cheney (R-WY).
Ahead of the pivotal primary for Wyoming’s at-large congressional district, Politico documented how lawyers and lobbyists have been some of “Cheney’s biggest benefactors throughout her political career.”
The establishment media outlet noted that more than four dozen Republican lobbyists signed up to host one fundraiser for Cheney in 2021.
Politico also noted that many prominent lobbyists donated to Cheney in the final weeks of her primary, even though she was slated to lose Hageman.
The outlet’s Caitlyn Oprysko elaborated:
Samuel Olchyk of Venable, Michael Robinson of Mehlman Castagnetti Rosen & Thomas, Khary Cauthen of Cheniere, Julius Hobson of Polsinelli and Christopher Boesen of Tiber Creek Associates of Capitol Hill, are among the registered lobbyists who wrote checks to Cheney in the final weeks of the primary, along with Joshua Dorner, the managing director of SKDK’s Washington office and Hal Quinn, the head of the National Mining Association.
— CVS Health’s Shannon Penberthy and ACG Advocacy’s Michael Barbera also wrote checks to Cheney this year, and throughout the campaign, she received donations of at least $2,900 — the maximum amount allowed for individuals for a primary — from Nathanson + Hauck’s Megan Hauck, the Business Roundtable’s Josh Bolten and Kristen Silverberg, Blackstone’s Wayne Berman, Coinbase’s Kara Calvert, Fierce Government Relations’ Kirk Blalock, Forbes Tate Partners’ Jeff Forbes (a Democrat), West Front Strategies’ Shimmy Stein and Airlines for America’s Nick Calio.
…
— James Richards of Cornerstone Government Affairs, Brian Shinault of American Strategic Partners and Denise Morrisey of Capitol Counsel have also donated to Hageman.
Former lawmakers also donated to Cheney.
This includes, “Filemón Vela, Congress Minutes reported. Former Reps. Mac Thornberry, Martha Roby and Rodney Frelinghuysen also contributed via their old campaign accounts, while former Rep. Ileana Ros-Lehtinen gave to Cheney personally.”
Jeff Miller, a House Republican Leader Kevin McCarthy (R-CA) ally who runs the lobbying firm Miller Strategies, said in 2021 that they could either work for Cheney or they could work for the potential next House speaker.
Sean Moran is a congressional reporter for Breitbart News. Follow him on Twitter @SeanMoran3.
Trump is struggling to find good lawyers who are still willing to represent him: WaPo report
Donald Trump is struggling to find lawyers willing to represent him, per a Washington Post report.
The Post spoke to several lawyers, some of whom described Trump as an impossible client.
Others said they feared they would not get paid after representing him.
Former President Donald Trump is having trouble finding a good lawyer to represent him, per a new report from The Washington Post.
The Post spoke to several lawyers who commented under the condition of anonymity on Trump's struggle to find seasoned counsel to defend him. "Everyone is saying no," a Republican lawyer told The Post, weighing in on how lawyers are turning down the Trump camp's cases.
Also speaking under anonymity, another lawyer spoke about the difficulties faced when representing Trump. They said that during his presidency, Trump would tweet about the Mueller probe against his legal team's advice. Several other people also told The Post that Trump was an impossible client, and worried if they would be compensated for their work.
"In olden days, he would tell firms representing him was a benefit because they could advertise off it. Today it's not the same," said Michael Cohen, a former Trump lawyer who has since become a fierce critic of the former president.
"He's also a very difficult client in that he's always pushing the envelope, he rarely listens to sound legal advice, and he wants you to do things that are not appropriate, ethically or legally," Cohen added.
Trump spokesman Taylor Budowich told The Post that the Trump legal team includes individuals like Jim Trusty and Evan Corcoran, who have "decades of prosecutorial experience and have litigated some of the most complex cases in American history."
"President Trump is represented by some of the strongest attorneys in the country, and any suggestion otherwise is only driven by envy," Budowich said.
Trump is currently represented by Trusty and Corcoran — as well as Alina Habba, a New Jersey parking garage lawyer, and former One America News anchor Christina Bobb.
Trump is facing several major legal challenges this year, including an investigation in New York into whether the Trump Organization violated banking, insurance, and tax laws and whether it engaged in financial fraud. Trump pleaded the fifth more than 440 times during his deposition in the case.
Trump could also be facing potential criminal charges following an investigation from the Department of Justice into whether he mishandled confidential documents. While executing a search warrant on Trump's Mar-a-Lago last Monday, the FBI removed 11 sets of classified documents — some of which were marked "top secret" and concerned nuclear weapons. According to the warrant, the Justice Department is looking into whether Trump broke three federal laws, including the Espionage Act.
A representative at Trump's post-presidential press office did not immediately respond to Insider's request for comment.
Read the original article on Business Insider
Nolte: MoneyBags Liz Cheney’s Only Future Is at Disgraced CNN
Watching outgoing (tee hee) Rep. Liz Cheney (R-WY) compare herself to Ulysses S. Grant was really something. Watching her compare herself to Abraham Lincoln is now (at least so far) my favorite part of the 2022 election season.
The self-regard! The hubris! The self-love!
More like, the self-delusion.
With narcissistic sociopaths like Liz Cheney, you never know if they truly believe what they say or whether they are just saying what they’re required to remain in good standing with the Mika-Joe-Jake-Anderson-Wolf-Rachel morons.
You better tote that barge, girl. You better lift that bale.
Watch as Liz Cheney compares herself to former Pres. Abraham Lincoln:
C-SPANTo keep her and the rest of our insufferable elites’ delusions in place, Cheney says she’s seriously thinking of running for president in 2024.
As what?
The Democrats will chuck her the moment she stops being useful and represents even a tiny threat to their violent quest for power. Ask Cindy Sheehan about that.
As we saw in her blow-out humiliation in Wyoming, GOP voters can’t stand her.
Will she try to run as a spoiler Independent? Well, who do you think that will hurt? Donald Trump, who left office with record GOP support? Or His Fraudulency Joe Biden, who’s losing Democrat support, even among black voters?
Please, run, Liz. Run like the wind, cupcake. Run like you’ve never run before. Run like there’s a spot on The View for you at the finish line.
Hey, maybe Liz and Evan McMullin could join forces and run for president on the Smug Ticket.
Liz Cheney was not humiliated and rejected in Wyoming Tuesday night because she “betrayed Donald Trump.” Liz Cheney was humiliated and rejected because she betrayed Wyoming.
How much higher do energy prices have to explode before Liz Cheney gives up on her personal (and childish) vendetta against the Orange Whale?
Rep. Liz Cheney, R-Wyo., arrives, with her father, former Vice President Dick Cheney, to vote at the Teton County Library during the Republican primary election on Tuesday, Aug 16, 2022 in Jackson Hole, WY. (Jabin Botsford/The Washington Post via Getty Images)
How many illegal aliens have to cross the border before Liz Cheney stops allowing herself to be prostituted against all Trump supporters by Nancy Pelosi?
How much underage grooming does the left have to try and institutionalize in our schools, health care, and entertainment before Liz Cheney stops making everything about Liz Cheney and her “principles?”
How bad does crime have to get?
How many Afghanistan withdrawals?
How many Black Lives Matter riots?
How high does the price of eggs have to get before Liz Cheney disconnects from the crack pipe of establishment media love?
No one — and I do mean no one — sees Liz Cheney as principled. Everyone — including the corporate media, Democrats, and her fellow mercenaries in Never Trump — know exactly what she’s doing: using the quickest, easiest, and safest way imaginable to feather her own nest…
Betray Trump supporters = get rich quick.
The Deep State might not be able to win a war, manage a military withdrawal, handle a pandemic, or run an economy, but one thing these degenerates do better than anyone else is reward their own.
Trump lost money serving in elected office.
Check out, Liz!
So MoneyBagsLiz is headed towards the only place the Vichy GOP can go and still pretend to be relevant: CNNLOL.
Bye, Felicia!
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