NEW YORK: In a probe by Manhattan’s district attorney, Donald Trump’s namesake firm and its longstanding chief financial officer are set to face criminal charges on Thursday (Jul 1). The Trump Organization and its CFO, Allen Weisselberg, are anticipated to be arraigned in a New York state court in Manhattan later today, when a grand jury indictment is expected to be released, according to a source familiar with the situation.
According to a source familiar with the case, the company’s lawyer, Alan Futerfas, is scheduled to lodge a not guilty plea on the company’s behalf.
In a joint statement, Weisselberg’s lawyers Mary Mulligan and Bryan Skarlatos said, “Mr Weisselberg plans to plead not guilty and will fight these accusations in court.” Early the next morning, Weisselberg surrendered to authorities. An indictment of the Trump Organization could jeopardize the company’s connections with banks and commercial partners, as well as hinder Trump’s political future as he considers a presidential bid in 2024. READ: Trump claims the New York criminal investigation is on a “desperate search for a crime”
The district attorney, Cyrus Vance, began his inquiry nearly three years ago and has recently collaborated with the office of New York Attorney General Letitia James on the still-open investigation. Democrats Vance and James are. ‘THIS IS POLITICS,’ SAYS THE COMPANY. Prosecutors are using Weisselberg, who has worked for the Trump family firm for 48 years, as “a pawn in a scorched earth attempt to destroy the former president,” according to the Trump Organization. Vance’s case, according to the firm, is one that neither the IRS nor any other district attorney would ever pursue.
The firm stated, “This is not justice; this is politics.”
Trump’s lawyer, Ronald Fischetti, has stated that he does not anticipate to be prosecuted this week.
Former President Barack Obama has denied wrongdoing and referred to the investigation as a “witch hunt” by politically motivated prosecutors.
READ: The Trump Organization is now the subject of a criminal investigation by the state of New York: Attorney-general According to people familiar with the investigation, Thursday’s allegations would center on whether Weisselberg and other executives received perks and privileges such as rent-free homes and leased cars without properly disclosing them on their tax forms. Trump labeled prosecutors “biased” and said his company’s activities were “in no way a crime” in a statement released on Monday. If convicted, the Trump Organization could face fines and other penalties. GIFTS AND PERKS The charges may put more on on Weisselberg to cooperate with prosecutors, which he has previously refused to do. That cooperation could be critical in any future legal action against his longstanding boss. Around the world, the Trump Organization manages hotels, golf courses, and resorts. Before taking office in January 2017, Trump placed his business under a trust controlled by his adult sons and Weisselberg, who has kept a tight grip on the company’s finances. Trump’s current position with the company is unknown. According to court documents, public records, and subpoenaed documents, Weisselberg and his son Barry have received perks and gifts totaling hundreds of thousands of dollars, including many real estate benefits. The matter could be investigated as a corporation conspiracy to pay people off the books in order to hide assets over a long period of time. Vance has looked at a number of possible wrongdoings, including if Trump’s company altered the value of its real estate to save money on taxes and get better credit conditions./n
