One of Donald Trump’s top moneymen has admitted to breaking the law to help fellow Trump Organization executives avoid taxes on company-paid apartments and other perks.
FILE - Trump Organization senior vice president and controller Jeffrey McConney returns to the courthouse after a break in the company's trial on Nov. 1, 2022, in New York. On Thursday, Nov. 10, 2022, McConney admitted , to breaking the law to help fellow Trump Organization executives avoid taxes on company-paid apartments and other perks, including by preparing misleading tax returns and failing to report the benefits to tax authorities.
According to McConney, the accountant warned that the Trump Organization's dubious and since-discontinued practice of splitting bonus payments between an executive's salary and one-time independent contractor payments from subsidiaries could jeopardize the law license of one such executive: its top lawyer.on compensation they got in addition to their salaries.
McConney said that Weisselberg, his boss for years, had wide latitude over the company's operations and even quoted him as saying that Trump hired him to essentially run the company. Merchan wore a blue surgical mask on the bench. About half the jurors also wore masks. McConney, who had been coughing off and on during his testimony last week, didn’t do so nearly as much on Thursday and testified that he was feeling “much better.”
“Did you intentionally try to help people evade their income taxes?” prosecutor Joshua Steinglass asked. McConney, in his third day on the witness stand, testified that he deducted the cost of some executives' perks from their salaries, reducing their tax liability further. Trump signed off on the salary reductions. Prosecutors showed a 2012 memo noting one such arrangement for Calamari Sr. bearing the former president’s initial — a D resembling a treble clef — and the handwritten notation, “OK.
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