Post by tnthomas on Aug 26, 2018 22:42:32 GMT -5
Allen Weisselberg, longtime Trump Organization CFO has been granted immunity.
Allen Howard Weisselberg is the chief financial officer (CFO) of The Trump Organization. Weisselberg and Donald Trump Jr. also serve as the two sole trustees of the company, making them the only people who know details of the Trump trust's finances.
He has been subpoenaed by a grand jury to testify in the probe into campaign finance violations and tax and bank fraud by Trump's former lawyer, Michael Cohen, who pleaded guilty in August 2018 to the charges, implicating Trump in a statement made under oath.
He has been subpoenaed by a grand jury to testify in the probe into campaign finance violations and tax and bank fraud by Trump's former lawyer, Michael Cohen, who pleaded guilty in August 2018 to the charges, implicating Trump in a statement made under oath.
The news that Weisselberg has accepted immunity suggests that the Trump Organization’s chief financial officer is ready to share whatever information he has. And he has a lot.
In late 2016, I had lunch with a former high-ranking Trump Organization executive, a person who said he was happy to share dirt on his old boss, but who confessed to not having much dirt to share. This executive wrote a list of people whom I might contact to find out about anything potentially illegal or unethical that Donald Trump may have done. At the bottom of the list was the name Weisselberg. “Allen is the one guy who knows everything,” the person told me. “He’ll never talk to you.” I have had nearly identical conversations with different people who work or have worked for the Trump Organization many times since. They all described his role similarly: Allen Weisselberg, the firm’s longtime chief financial officer, is the center, the person in the company who knows more than anyone.
On Friday, the Wall Street Journal broke the story that Weisselberg had been granted immunity by federal prosecutors in the Southern District of New York so that he could share information in the investigation of Michael Cohen, Trump’s former personal attorney and dealmaker. It is safe to say that the entire world of Trump watchers—those journalists, political folks, and advocates who carefully monitor every bit of Trump news—went bonkers. Weisselberg is the man to whom those people most want to speak. He is also the man who has, for decades, been the most circumspect.
As the C.F.O., Weisselberg tracked the money that came into the Trump Organization and the money that went out of it, former employees told me. I often found myself wondering what the Weisselberg part of the operation looked like. (I called and e-mailed him a few times, but, not surprisingly, never heard back.) Some told me he had a couple of bookkeepers, but that he personally handled most of the paperwork. Weisselberg knew who was paying or lending money to Trump, and he knew to whom Trump was giving money. When Trump became President, he placed his business interests in a revocable trust overseen by his son Donald Trump, Jr., and Weisselberg.
In a recording that Michael Cohen made of a conversation he had with Donald Trump about a payment to keep secret an affair, Cohen described setting up a shell company to pay hush money during the 2016 campaign to Karen McDougal, a woman who claimed to have had an affair with Trump. This week, Cohen pleaded guilty to violating campaign-finance laws, in part by setting up this secretive payment. He said that he knew at the time that it was illegal to secretly make a payment for campaign-related activity, but he did so anyway at Trump’s direction. Strikingly, Cohen makes it clear on the tape that Weisselberg also knew about the shell company and payment. “I’ve spoken to Allen Weisselberg about how to set the whole thing up,” Cohen explains to Trump.
It is difficult to hear the tape and not wonder how Weisselberg developed this particular expertise and whether he had deployed it before. More importantly, it offers more justification for Robert Mueller and other federal, state, and local prosecutors to investigate the Trump Organization’s general business practices. The tape suggests that Weisselberg provided guidance for Cohen’s payment, an illegal act designed to influence the election. Since one of the Mueller investigation’s core aims is to understand whether the Trump campaign worked with Russia to sway the 2016 Presidential election, Weisselberg now seems to be a key witness. Worse, for Trump, if Weisselberg, fearing prosecution himself, tells prosecutors of other criminal activity in the organization, that information will likely be referred to other federal and state prosecutors, thus broadening the investigation of Trump’s business.
Weisselberg has worked exclusively for the Trump family for his entire adult life. Shortly after graduating from college, he began working for Fred Trump, in 1970, and then for the young Donald when he entered the business. Weisselberg’s son Barry works at the Trump-run Wollman Skating Rink, in Central Park; his other son, Jack, works at Ladder Capital, which has been a primary lender to the Trump Organization in recent years, when few other lenders would work with a company that had experienced several bankruptcies.
Last month, the New York State Attorney General, Barbara Underwood, sued the Trump Foundation. Weisselberg had been deposed and showed a surprising willingness to give answers that put the President in an unflattering light. In January, 2016, during Trump’s Presidential campaign, his foundation made a series of donations to veterans-advocacy organizations in Iowa that were explicitly designed to gain support for his candidacy. Weisselberg filled out the checks. In his deposition, he volunteered that the Trump Foundation had no procedures in place to insure it followed the law and that Trump himself knew of and directed Weisselberg’s participation in the scheme to pay those Iowa veterans groups. Were Weisselberg eager to protect his longtime boss, he could have answered the questions far more narrowly. It was an early hint that Weisselberg, like Cohen, may not jeopardize his own freedom to defend Trump. News that Weisselberg had accepted immunity so that he could share potentially damaging information in the Cohen case provides more support for the view that Weisselberg is ready to share whatever information he has. And he has a lot.
In late 2016, I had lunch with a former high-ranking Trump Organization executive, a person who said he was happy to share dirt on his old boss, but who confessed to not having much dirt to share. This executive wrote a list of people whom I might contact to find out about anything potentially illegal or unethical that Donald Trump may have done. At the bottom of the list was the name Weisselberg. “Allen is the one guy who knows everything,” the person told me. “He’ll never talk to you.” I have had nearly identical conversations with different people who work or have worked for the Trump Organization many times since. They all described his role similarly: Allen Weisselberg, the firm’s longtime chief financial officer, is the center, the person in the company who knows more than anyone.
On Friday, the Wall Street Journal broke the story that Weisselberg had been granted immunity by federal prosecutors in the Southern District of New York so that he could share information in the investigation of Michael Cohen, Trump’s former personal attorney and dealmaker. It is safe to say that the entire world of Trump watchers—those journalists, political folks, and advocates who carefully monitor every bit of Trump news—went bonkers. Weisselberg is the man to whom those people most want to speak. He is also the man who has, for decades, been the most circumspect.
As the C.F.O., Weisselberg tracked the money that came into the Trump Organization and the money that went out of it, former employees told me. I often found myself wondering what the Weisselberg part of the operation looked like. (I called and e-mailed him a few times, but, not surprisingly, never heard back.) Some told me he had a couple of bookkeepers, but that he personally handled most of the paperwork. Weisselberg knew who was paying or lending money to Trump, and he knew to whom Trump was giving money. When Trump became President, he placed his business interests in a revocable trust overseen by his son Donald Trump, Jr., and Weisselberg.
In a recording that Michael Cohen made of a conversation he had with Donald Trump about a payment to keep secret an affair, Cohen described setting up a shell company to pay hush money during the 2016 campaign to Karen McDougal, a woman who claimed to have had an affair with Trump. This week, Cohen pleaded guilty to violating campaign-finance laws, in part by setting up this secretive payment. He said that he knew at the time that it was illegal to secretly make a payment for campaign-related activity, but he did so anyway at Trump’s direction. Strikingly, Cohen makes it clear on the tape that Weisselberg also knew about the shell company and payment. “I’ve spoken to Allen Weisselberg about how to set the whole thing up,” Cohen explains to Trump.
It is difficult to hear the tape and not wonder how Weisselberg developed this particular expertise and whether he had deployed it before. More importantly, it offers more justification for Robert Mueller and other federal, state, and local prosecutors to investigate the Trump Organization’s general business practices. The tape suggests that Weisselberg provided guidance for Cohen’s payment, an illegal act designed to influence the election. Since one of the Mueller investigation’s core aims is to understand whether the Trump campaign worked with Russia to sway the 2016 Presidential election, Weisselberg now seems to be a key witness. Worse, for Trump, if Weisselberg, fearing prosecution himself, tells prosecutors of other criminal activity in the organization, that information will likely be referred to other federal and state prosecutors, thus broadening the investigation of Trump’s business.
Weisselberg has worked exclusively for the Trump family for his entire adult life. Shortly after graduating from college, he began working for Fred Trump, in 1970, and then for the young Donald when he entered the business. Weisselberg’s son Barry works at the Trump-run Wollman Skating Rink, in Central Park; his other son, Jack, works at Ladder Capital, which has been a primary lender to the Trump Organization in recent years, when few other lenders would work with a company that had experienced several bankruptcies.
Last month, the New York State Attorney General, Barbara Underwood, sued the Trump Foundation. Weisselberg had been deposed and showed a surprising willingness to give answers that put the President in an unflattering light. In January, 2016, during Trump’s Presidential campaign, his foundation made a series of donations to veterans-advocacy organizations in Iowa that were explicitly designed to gain support for his candidacy. Weisselberg filled out the checks. In his deposition, he volunteered that the Trump Foundation had no procedures in place to insure it followed the law and that Trump himself knew of and directed Weisselberg’s participation in the scheme to pay those Iowa veterans groups. Were Weisselberg eager to protect his longtime boss, he could have answered the questions far more narrowly. It was an early hint that Weisselberg, like Cohen, may not jeopardize his own freedom to defend Trump. News that Weisselberg had accepted immunity so that he could share potentially damaging information in the Cohen case provides more support for the view that Weisselberg is ready to share whatever information he has. And he has a lot.
