Business & Lobbying

Trump Org CFO removed as officer at subsidiaries after fraud charges: report

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The Trump Organization has reportedly dropped it’s embattled chief financial officer, Allen Weisselberg, from some of its subsidiaries after New York prosecutors charged him with multiple counts of fraud and conspiracy.

Sources close to the matter told The Wall Street Journal that the decision to drop Weisselberg from some of the Trump Organization’s subsidiaries came amid discussions about potentially changing the duties, powers and title of the executive who has been with the Trump family for nearly 50 years. Despite these discussions, Weisselberg is expected to stay at the company.

On July 1, New York prosecutors levied 15 charges against Weisselberg and the Trump Organization, including tax fraud, grand larceny and falsifying business records. Prosecutors alleged that Weisselberg created a scheme in order to enrich himself and other executives at former President Trump’s company with unreported income. He has pleaded not guilty to all the charges.

One of the companies from which Weisselberg has reportedly been dropped is Trump Payroll Corp., where he previously was listed as director, treasurer, vice president and secretary. The company processes payroll for Trump Organization staff. The Journal reports that Trump’s eldest son, Donald Trump Jr., appears to have assumed Weisselberg’s role within that company.

Weisselberg has also apparently been dropped from Trump International Golf Club Scotland Ltd., which is tied to the former president’s golf course in Scotland.

The Hill has reached out to the Trump Organization for comment.

Both the former president and attorneys for his company have claimed that the charges against Weisselberg and the Trump Organization are politically motivated, with Trump calling them a “political witch hunt.”

“Today in New York City, violent crime continues to steadily rise to levels not seen in decades,” a spokesperson for the company said at the time of Weisselberg’s indictment. “Yet, instead of focusing on protecting the people of New York, the District Attorney has instead devoted countless resources for the sole purpose of targeting the former President.”

Tags Allen Weisselberg Allen Weisselberg Donald Trump Donald Trump Legal affairs of Donald Trump The Trump Organization

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