Trump CFO Allen Weisselberg is unlikely to flip on his boss, despite pressure from prosecutors, reports say

Donald trump allen weisselberg
Trump Organization chief financial officer Allen Weisselberg looks on as then-U.S. Republican presidential candidate Donald Trump speaks during a news conference at Trump Tower in Manhattan, New York, U.S., May 31, 2016. Carlo Allegri/Reuters/File Photo
  • Donald Trump’s longtime CFO is unlikely to flip on his former boss, Bloomberg reported.
  • Allen Weisselberg, 74, was charged with 15 felony counts along with the Trump Organization.
  • Weisselberg reportedly believes that he could get off lightly, even if he is convicted.
  • See more stories on Insider’s business page.

Despite pressure from prosecutors, Donald Trump’s longtime chief financial officer Allen Weisselberg is unlikely to flip on his boss, Bloomberg reported.

In July, Manhattan prosecutors charged the Trump Organization and Weisselberg with 15 felony counts, including a scheme to defraud, conspiracy, and grand larceny.

Both the organization and Weisselberg pleaded not guilty.

The charges were the first to come out of a three-year investigation into the former president’s company and its financial dealings.

While Weisselberg technically faces up to 15 years in prison, lawyers told Bloomberg that the executive is more likely to get between one and two years in jail due to the amount of money involved and his lack of a criminal record.

It means that prosecutors working for Manhattan District Attorney Cyrus Vance have limited bargaining power.

For months, Vance’s office has been attempting to pressure Weisselberg into cooperating with them for their broader investigation into Donald Trump and his company.

Bloomberg reported that Weisselberg will be weighing up his options and has likely decided to take the gamble that his sentence will be short even if convicted.

The 74-year-old has worked for the Trumps for most of his adult life, the outlet said. As CFO, he earned $US940,000 ($AU1,293,697) a year.

Turning on his former boss would mean losing a hefty paycheck and would potentially expose himself to lawsuits by Trump Organization creditors, Bloomberg reported.

Weissellberg has also been unflinchingly loyal to Trump over the years.

“They are like Batman and Robin,” Barry Weisselberg’s ex-wife, Jennifer, told The New York Times.

“They’re a team. They’re not best friends. They don’t spend all their time together, but the world became so insular for Allen that he did not know anything else.”

In the July indictment, prosecutors said that the Trump Organization and Weisselberg paid executives with perks such as housing and cars to help them avoid income taxes. Weisselberg personally did not pay taxes on $US1.7 ($AU2) million of his income.

Although most of the perks went to Weisselberg, his wife Hilary also got a Mercedes, Bloomberg said.

His son Barry is also said to have been a beneficiary of a rent-free apartment.

Bloomberg reported that Weisselberg’s family could be a pressure point for Vance, who could promise not to bring tax fraud charges against his loved ones in exchange for cooperation.

Conversely, Weisselberg’s family would likely suffer financial harm if he admitted guilt, which might put him off making any deal, the outlet said.

Following the indictment, Weisselberg was removed as CFO of the Trump Organization but still works for the company.

Michael Cohen, Donald Trump’s former lawyer and fixer who is serving a three-year prison sentence linked to his work for Trump, said that Weisselberg was naive, thinking the former president would support him.

“The notion that Donald Trump will take care of Allen or any member of the Weisselberg family is comical,” Cohen told Bloomberg.

“For him to go to prison, expecting that Donald or the company would reciprocate upon his release, and ensure that his family is financially secure, is pure fantasy. Allen, of all people, knows this better than anyone else.”

Weisselberg is due to appear in court on Monday for the first time since his arraignment, Bloomberg said.