Allen Weisselberg, who served as the Trump Organization‘s chief financial officer for 40 years, admitted to tax evasion and agreed to testify against his former company in Manhattan District Attorney Alvin Bragg‘s investigation into the organization’s financial practices.

“Today Allen Weisselberg admitted in Court that he used his position at the Trump Organization to bilk taxpayers and enrich himself,” Bragg said in a statement. “This plea agreement directly implicates the Trump Organization in a wide range of criminal activity and requires Weisselberg to provide invaluable testimony in the upcoming trial against the corporation. Furthermore, thanks to the incredibly hard work and dedication of the team prosecuting this case, Weisselberg will spend time behind bars. We look forward to proving our case in court against the Trump Organization.”

Weisselberg, 75, pled guilty to 15 felonies including paying taxes on nearly $2 million in income, rent and luxury cars between 2005 and 2021. He also agreed to pay back the money he owes which totals $1,994,321.

The plea deal shortens Weisselberg’s sentence to five months behind bars and five years probation, though he will be allowed to testify in the criminal fraud trial into the Trump Organization this fall first. His jail time could also decrease to 100 days for good behavior. If he does not comply with the agreement, he could face up to 15 years in prison.

By testifying against the company, no members of the Trump family will be implicated. The case could require the organization to pay back the evaded taxes, but does not hold implications for individual family members.

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