It's 'Over' for Trump Organization if Weisselberg Pleads Guilty: Expert

If the Trump Organization's ex-chief financial officer (CFO) pleads guilty in the ongoing tax fraud case with the Manhattan District Attorney's Office, it would be "over" for the company, according to an expert.

Andrew Weissman, a professor of practice for New York University's School of Law, former federal prosecutor and legal analyst for MSNBC, said in an interview posted to YouTube on Monday that a guilty plea from former CFO Allen Weisselberg would be important because the Trump Organization is set to go on trial in October.

"Once Allen Weisselberg pleads guilty, it's over for the Trump Organization," Weissman said, explaining that the crimes Weisselberg allegedly committed would get "imputed" to the company founded by former President Donald Trump's family.

While Trump might not face jail time, the financial consequences could be "huge," Weissman added. The former president has not been charged in the probe.

Weisselberg Guilty Plea Expected
Former Trump Organization Chief Financial Officer Allen Weisselberg leaves after the conclusion of a hearing on his criminal case at Manhattan Criminal Court on August 12, 2022, in New York City. If Weisselberg pleads guilty in the ongoing tax fraud case with the Manhattan District Attorney's Office, it would be "over" for the company, according to an expert. Michael M. Santiago/Getty Images

The Trump Organization and Weisselberg were indicted last year on tax fraud and other charges as part of a yearslong criminal investigation into Trump's business practices, the Associated Press reported. Weisselberg is accused of taking more than $1.7 million in off-the-books payments from the Trump Organization, which also allegedly funneled such compensation to other executives.

The New York Times reported on Monday that Weisselberg was nearing a plea deal with prosecutors, citing three anonymous people it said had knowledge of the matter. The judge overseeing his case scheduled a hearing for Thursday, indicating that the plea could possibly be entered at that time.

Newsweek was not able to independently verify the report. Nicholas Gravante Jr., Weisselberg's lawyer, declined to comment when asked for confirmation.

Late last week, a New York judge scheduled jury selection for the case involving the Trump Organization and Weisselberg to begin on October 24, according to AP.

The future of the investigation into Trump's business practices by the Manhattan District Attorney's Office looked unclear when two prosecutors resigned in February. The New York Times published a letter from one of the prosecutors, Mark Pomerantz, who wrote about concerns regarding the direction of the case and asserted that Trump was guilty of committing crimes.

In April, Manhattan District Attorney Alvin Bragg, who inherited the probe, said that the investigation was continuing despite the shakeup.

"In recent weeks, the Manhattan District Attorney's Office has been repeatedly asked whether our investigation concerning former President Donald J. Trump, the Trump Organization, and its leadership is continuing," Bragg wrote in a statement. "It is.

"While the law constrains me from commenting further at this time, I pledge that the Office will publicly state the conclusion of our investigation – whether we conclude our work without bringing charges, or move forward with an indictment."

Newsweek reached out to the Trump Organization for comment.