Vance arrives as Trump company, CFO expected to face criminal charges; CFO to plead not guilty
Record ID:
1624508
Vance arrives as Trump company, CFO expected to face criminal charges; CFO to plead not guilty
- Title: Vance arrives as Trump company, CFO expected to face criminal charges; CFO to plead not guilty
- Date: 1st July 2021
- Summary: NEW YORK, NEW YORK, UNITED STATES (JULY 1, 2021) (REUTERS) VAN PULLING UP CARRYING MANHATTAN DISTRICT ATTORNEY, CYRUS VANCE
- Embargoed: 15th July 2021 15:54
- Keywords: Cyrus Vance
- Location: NEW YORK, NEW YORK, UNITED STATES
- City: NEW YORK, NEW YORK, UNITED STATES
- Country: USA
- Topics: Crime/Law/Justice,Judicial Process/Court Cases/Court Decisions,United States
- Reuters ID: LVA001EK0CBBB
- Aspect Ratio: 16:9
- Story Text:New York district attorney, Cyrus Vance, arrived to his offices Thursday (July 1) after the Trump Organization's longtime chief financial officer Allen Weisselberg surrendered to authorities. He and Donald Trump's namesake company prepared to face the first charges from a criminal investigation.
Weisselberg and the Trump Organization are expected to be arraigned later in the day in a New York state court in Manhattan, a person familiar with the matter has said. The exact charges being brought by Vance were not immediately revealed.
Vance's office has been working with investigators from the office of New York Attorney General Letitia James.
An indictment of the Trump Organization could undermine the company's relationships with banks and business partners, and complicate Trump's political future as he contemplates running again for president in 2024.
Trump himself is not expected to be charged this week, though prosecutors have said their probe into his company is continuing, his lawyer Ronald Fischetti has said.
The former president, a Republican, has denied wrongdoing, and called the probe a "witch hunt" by politically-motivated prosecutors. Vance and James are both Democrats.
Thursday's charges are expected to focus on whether Weisselberg and other executives received perks and benefits such as rent-free apartments and leased cars, without reporting them properly on their tax returns, people familiar with the probe have said.
The Trump Organization called Vance's case a prosecution that neither the Internal Revenue Service nor any other district attorney would ever bring.
The case could be charged as a scheme by the company to pay people off the books in order to hide assets over many years.
Vance has examined an array of potential wrongdoing, including whether Trump's company manipulated the value of its real estate to reduce its taxes and secure favorable loan terms.
(Production by: Aleksandra Michalska and Dan Fastenberg) - Copyright Holder: REUTERS
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