An executive has testified that Donald Trump’s election as president was a wake-up call for the company synonymous with him, his wealth and his fame.
Trump Organization senior vice president and controller Jeffrey McConney returns to the courthouse after a break in the company's trial, Tuesday, Nov. 1, 2022, in New York. The Trump Organization is on trial this week for criminal tax fraud. – Donald Trump’s election as president was a wake-up call — not just for the political establishment, but also for the company synonymous with him, his wealth and his fame, a top executive testified Tuesday.
The company, which for years lavished perks on some top executives, now stands accused of helping them avoid income taxes on those extras, including a Manhattan apartment and luxury cars. McConney, who coughed at times during his testimony, told jurors he fudged company pay records to reduce longtime company finance chief Allen Weisselberg's income tax bill.The tax fraud casearisen from the Manhattan district attorney’s three-year investigation of the former president.
After Trump’s election, McConney said, the Trump Organization asked tax lawyer Sheri Dillon to conduct an investigation of the tax practices at its various entities. Dillon, who consulted for the company on various tax matters over the years, wrote a lengthy memo detailing her findings, prosecutor Joshua Steinglass said.
Weisselberg has pleaded guilty to taking $1.7 million in off-the-books compensation and agreed to testify as a prosecution witness at the trial, likely next week, in exchange for a five-month jail sentence. McConney, who was granted immunity to testify last year before a grand jury and again to testify at the criminal trial, said that Trump was the Trump Organization's ultimate decision-maker prior to his election.
Jurors were also shown documents illustrating how McConney changed Weisselberg's pay records, trimming his salary and bonus by more than $195,000 in one year to reflect the amount the company and Trump had spent on rent and tuition.
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