Trump Organization Braces for Criminal Charges From New York Prosecutors as Soon as Next Week, Lawyer Says

The Manhattan district attorney's office has notified Donald Trump's lawyers that criminal charges are being considered against his family firm, the Trump Organization, several sources familiar with the matter claim.

The case is in connection with ancillary benefits given to a top executive. If the case proceeds, the district attorney, Cyrus Vance Jr., may file charges against the Trump Organization and its chief financial officer, Allen Weisselberg, as early as next week, the sources added. A charge of the Trump Organization might be the first criminal charges to come from Vance's long-running investigation into Trump and his business dealings, raising the unsettling prospect of a former president defending the firm he established and controlled for decades.

New York DA looks into Trump Organization' activities

In an interview with USA TODAY, Trump Organization lawyer Ron Fischetti claimed that Trump lawyers met with local prosecutors on Thursday in an attempt to urge officials not to continue. Prosecutors have not been able to enlist the help of Allen Weisselberg, the Trump Organization's long-standing top financial officer and the most informed about the former president's business dealings, according to Fischetti.

Vance has been looking into the Trump family's business activities for more than two years, looking for probable fraud involving banks, insurance firms, and taxation agencies. Per ABC News, Vance's investigation has focused in part on the finances of the former president, his family, and his company's finances. It has also involved a dispute over tax returns that have twice reached the United States Supreme Court.

The inquiry was sparked by former Trump attorney Michael Cohen's testimony before Congress where he claimed that the Trump Organization valued its assets differently when seeking loans than when talking to tax authorities. According to the sources, if a grand jury believes Trump Organization CFO Allen Weisselberg did not properly account for any benefits he got, he may be indicted as well. Trump has denied all wrongdoing and characterized the probe as politically motivated, referring to it as "the biggest witch hunt in American history."

Vance, who is not seeking re-election as District Attorney, is widely expected to decide on charges in the case before handing over the reins to a replacement in January. On Thursday, attorneys for the Trump Organization met virtually with prosecutors to discuss the investigation into fringe benefits given to top executives, after which one of the lawyers stated that the Trump Organization will try to have the case dismissed. Following a subpoena, Jeffrey McConney, a senior Trump Organization controller, was the first business employee to appear before a grand jury on June 4.

Trump's financial officer participated in the probe

Andrew Weissmann, a former Justice Department official, and FBI general counsel has stated that McConney's testimony may be bad news for the Trump Organization and some of its members. Additionally, Allen Weisselberg, Trump's long-serving chief financial officer, is a key participant in the criminal tax probe.

Prosecutors may investigate whether Weisselberg or Trump signed off on hundreds of thousands of dollars in tuition payments for a preparatory school attended by the Weisselbergs' grandkids or if any taxes were paid on those privileges. Through a grand jury subpoena issued in 2019, Vance fought for access to the former president's personal and company tax records in court, and was successful in February of this year, The Washington Examiner reported.

The Manhattan District Attorney's Office also obtained access to Weisselberg's tax filings in June, allowing investigators to acquire a better understanding of whether the executive committed any violation. If found guilty of charges linked to dishonest tax dealings, businesses, such as Trump's, the corresponding penalties and criminal charges can jeopardize a company's connection with banks and business partners, as well as inflict long-term harm to its reputation.