Allen Weiselberg will testify about the activities of the "Trump Organization"

Photo: Profimedia

The former CFO of the former president's family business Donald Trump pleaded guilty today to helping Trump evade taxes for 15 years.

The plea is part of a deal with prosecutors that allows him to testify against the company in a trial that begins soon.

Trump Organization CFO Allen Weiselberg pleaded guilty to all 15 charges. He was accused of avoiding taxes on lavish fringe benefits he received from the company, including lease payments on a luxury car, rent on a Manhattan apartment and private school tuition for his grandchildren.

Weiselberg is the only person so far facing criminal charges in the Manhattan district attorney's long-running investigation into the company's business practices.

Trump himself has not been charged.

"This guilty plea directly establishes that the Trump Organization engaged in a wide range of criminal activities and obligates Weiselberg to provide invaluable testimony during the trial," Manhattan District Attorney Alvin Bragg said in a statement.

The plea agreement also requires Weiselberg to testify truthfully as a prosecution witness when the Trump Organization goes on trial in October on related charges. The company is accused of helping Weiselberg and other executives avoid income taxes by not reporting the correct amount of their salaries to the IRS. He is accused of hiding income taxes in the amount of 1.76 million dollars.

By taking a plea deal, he will likely pay a fine of $2 million in penalty points, unpaid taxes and interest, and five years of probation. If he didn't take the deal, he would have faced 15 years in prison.

The Trump Organization manages golf clubs, hotels and other real estate. If convicted, the company will have to pay hefty fines and other punitive measures.

Weiselberg worked at the company for about half a century. After he was accused, he stepped down from the position, but is still in the Trump team as a senior adviser.

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