THREAD: What should we make of the news that the Trump Organization and its Chief Financial Officer Allen Weisselberg were indicted by a Manhattan grand jury?
1/ Today a Manhattan grand jury returned criminal indictments against the Trump Organization and its CFO, Allen Weisselberg.
This was anticipated, given that defense counsel was given the opportunity to "pitch" prosecutors to convince them not to charge.
washingtonpost.com/politics/trump…
This was anticipated, given that defense counsel was given the opportunity to "pitch" prosecutors to convince them not to charge.
washingtonpost.com/politics/trump…
2/ The charges are reportedly related to unpaid taxes on benefits for Trump Organization executives.
Bringing narrow charges now, with months of time remaining for this grand jury, suggests that prosecutors don't have the evidence to bring more serious charges at this time.
Bringing narrow charges now, with months of time remaining for this grand jury, suggests that prosecutors don't have the evidence to bring more serious charges at this time.
3/ So why did the Manhattan DA charge Weisselberg now? Likely to put pressure on him to flip.
To an elderly executive like Weisselberg, spending even a day in prison can be a frightening proposition. That said, this sort of offense is unlikely to result in a lengthy sentence.
To an elderly executive like Weisselberg, spending even a day in prison can be a frightening proposition. That said, this sort of offense is unlikely to result in a lengthy sentence.
4/ Based solely on what we know publicly, it looks like Weisselberg will fight the charges and refuse to plead guilty.
Charging Weisselberg puts prosecutors on a "speedy trial clock" where they will have to produce discovery and go to trial while they continue the investigation.
Charging Weisselberg puts prosecutors on a "speedy trial clock" where they will have to produce discovery and go to trial while they continue the investigation.
5/ Additional charges can be brought, but proving the defendant's state of mind in tax cases can be challenging.
I would expect prosecutors to continue to work to find someone who can "flip" unless there are communications (emails, texts, etc) that can make the case for them.
I would expect prosecutors to continue to work to find someone who can "flip" unless there are communications (emails, texts, etc) that can make the case for them.
6/ The Trump Organization will reportedly be charged, and it can be charged and convicted just like a human defendant if an officer like Weisselberg acted on its behalf.
Prosecutors tend to focus more on human defendants because, unlike companies, they can go to prison.
Prosecutors tend to focus more on human defendants because, unlike companies, they can go to prison.
7/ That said, an indictment can have a devastating impact on a company. A company has to disclose the indictment to lenders and to others who they are engaging in major business deals with. I've had to make those disclosures, and they often kill deals for companies.
8/ We don't know exactly how this will impact Trump's businesses, given how they're structured, but tomorrow won't be a good day for the former president.
But for now, the charges are reportedly limited in scope. It remains to be seen if prosecutors find more.
But for now, the charges are reportedly limited in scope. It remains to be seen if prosecutors find more.
9/ If you're interested in more detail about the upcoming indictment, check out my latest #OnTopic podcast with former Chief Assistant Manhattan District Attorney @DanielRAlonso. ontopicpodcast.com /end
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