For years, as Donald Trump was soaring from reality TV star to the White House, his real estate empire was bankrolling big perks for some of his top executives, including apartments and luxury cars.
Now Trump’s company, the Trump Organization, is on trial for criminal tax fraud — on the hook for what prosecutors say was a 15-year scheme by his most trusted lieutenant to avoid paying taxes on those fringe benefits.
In opening statements today (Macau time), prosecutors and defense lawyers sparred over the company’s culpability for the actions of Allen Weisselberg, who has pleaded guilty and agreed to testify as a star prosecution witness in exchange for a five-month jail sentence.
Another Trump Organization executive, senior vice president and controller Jeffrey McConney, took the witness stand Monday afternoon for the first of what’s likely to be several days of testimony. Prosecutors say McConney helped Weisselberg by misreporting his income to tax authorities.
McConney was granted immunity to testify last year before a grand jury and said he appeared before the panel eight times on a variety of Trump-related matters.
