Indicted Trump government Allen Weisselberg eliminated as officer of subsidiaries

0
26

Allen Weisselberg, Chief Financial Officer of the Trump Organization, arrives for his hearing at the New York State Supreme Court in the Manhattan neighborhood of New York City, New York, USA, July 1, 2021.

Brendan McDermid | Reuters

Allen Weisselberg, the long-time CFO of the Trump organization, was deposed after the tax offenses against Weisselberg and the company as a senior executive of several subsidiaries of the company of former President Donald Trump, it said in a new report on Monday.

One of the subsidiaries, Trump Payroll Corp., had Weisselberg listed as holding several senior positions before both he and Trump Payroll were indicted by the Manhattan Attorney General along with the Trump Organization earlier this month, the Wall Street Journal reported.

Citing Florida State Department business records, the newspaper said Trump’s eldest son, Donald Trump Jr., has taken over officer positions that Weisselberg previously held in Trump Payroll, which performs the payroll functions for the Trump Organization.

Weißelberg was also deposed as director of Trump International Golf Club Scotland Limited, the report said.

Despite his removal from these posts, the 73-year-old CFO is expected to stay with the Trump Organization, according to the Journal.

A Trump organization spokeswoman did not immediately respond to a request for comment from CNBC.

Weisselberg, the Trump Organization and Trump Payroll were indicted on July 1 in a 15-point indictment accusing them of a system that has helped Weisselberg and other corporate executives since 2005 avoid taxes on their pay.

Trump himself will not be charged in the case.

Lawyers from the Trump organization have denied the firm’s misconduct and pleaded not guilty with Weißelberg.

CNBC policy

Read more about CNBC’s political coverage:

The indictment states that Weisselberg and the company developed a plan to compensate him and other executives “out of the books” so that they receive “significant portions of their income in an indirect and disguised manner.”

Weißelberg had the Trump Organization pay the rent, utilities and garage costs for his apartment in Manhattan’s Upper West Side without this compensation being reported to the tax authorities and without paying the associated taxes, the indictment said.