Indicted Trump executive Allen Weisselberg dismissed as branch executive

Allen Weisselberg, longtime chief financial officer of the Trump Organization, was dismissed from his post as head of several subsidiaries of the company owned by former President Donald Trump following criminal tax charges against Weisselberg and the company, a reported Monday a new report.

One of the affiliates, Trump Payroll Corp., had listed Weisselberg as holding multiple officer positions before he and Trump Payroll were indicted with the Trump Organization earlier this month by the Manhattan District Attorney’s Office, reported the Wall Street Journal.

Citing Florida State Department business records, the newspaper said Trump’s eldest son Donald Trump Jr. had taken over the officer positions previously held by Weisselberg in Trump Payroll, which handles payroll functions for the Trump organization.

Weisselberg was also removed from his post as director of Trump International Golf Club Scotland Limited, according to the report.

Despite stepping down from those positions, the 73-year-old CFO is expected to stay with the Trump Organization, according to the Journal.

A spokeswoman for the Trump Organization did not immediately respond to a CNBC request for comment.

Weisselberg, the Trump Organization and Trump Payroll were indicted on July 1 in a 15-count indictment accusing them of a scheme that, since 2005, has helped Weisselberg and other company executives avoid taxes on their remuneration.

Trump himself is not charged in this case.

Lawyers for the Trump Organization have denied the firm’s wrongdoing and, along with Weisselberg, have pleaded not guilty.

The indictment says Weisselberg and the company designed the program to compensate him and other executives in an “official” manner, allowing them to receive “substantial portions of their income through indirect and disguised means. “.

Weisselberg had the Trump Organization pay the rent, utilities, and garage fees for his apartment on Manhattan’s Upper West Side without this compensation being reported to tax authorities and without paying related taxes, the report says. indictment.