State Watch

New York authorities investigate the family tax records of Trump Organization’s CFO: report

New York state’s attorney general is pushing ahead with an investigation into tax records from the family of the Trump Organization’s chief financial officer as part of a probe into President Trump’s company, Bloomberg News reported Thursday.

New York Attorney General Letitia James’s (D) probe into the Trump Organization involves the financial records from CFO Allen Weisselberg’s son and ex-daughter-in-law, a person familiar with the matter told Bloomberg.

The office is looking at their records in the hopes of getting more information about the organization’s operations and tax strategies as it continues its civil investigation into whether the company falsely reported property values to get loans and/or tax benefits. 

Bloomberg previously reported that Trump Organization manager Barry Weisselberg and his now ex-wife, Jennifer Weisselberg, received benefits including free rent for years in a company-owned building near Central Park. They also reportedly used the business’s accountant for personal tax filings. 

Legal experts told the news outlet that the perks could cause tax liabilities for the Weisselbergs and/or the Trump Organization. For four years, Barry and Jennifer Weisselberg’s tax returns also did not include the taxable income from the free rent, as required. 

Mary Mulligan, a lawyer for Allen Weisselberg, declined to comment to The Hill “on the many falsehoods and inaccuracies in the Bloomberg News article.”

“Our client has done nothing wrong and we will not continue to allow the media to use what are essentially private matters for political fodder,” she said. 

The Trump Organization did not immediately return to a request for comment. The New York attorney general’s office declined to comment.

Allen Weisselberg serves as the Trump Organization’s highest-ranking nonfamily employee and manages Trump’s trust while he’s president, Bloomberg noted.

State Watch