Trump Takes Weisselberg Off Subsidiaries

Chief financial officer remains in main job but is no longer listed as a director at more than 40 entities
By Bob Cronin,  Newser Staff
Posted Jul 12, 2021 7:10 PM CDT
Trump Entities Take Weisselberg Off Letterhead
Allen Weisselberg appears in court in New York on July 1.   (AP Photo/Seth Wenig,Pool)

Allen Weisselberg, chief financial officer of the Trump Organization, has lost his officer positions at more than 40 of the corporation's subsidiaries since being indicted on tax fraud charges. The changes began Thursday, the Washington Post reports, when British corporate records show Weisselberg was removed as a director of the company that operates a Trump golf course in Aberdeen, Scotland. On Friday, Florida records show, Weisselberg was taken off more than 40 Trump subsidiaries in Florida for which he was a director. Among the subsidiaries that no longer list Weisselberg is Trump Payroll, which was indicted in New York along with him and the Trump Organization. All three have pleaded not guilty. Florida records had showed Weisselberg as treasurer, director, vice president, and secretary, per the Wall Street Journal.

Now Donald Trump Jr. is executive vice president, director, secretary, treasurer, and vice president; Eric Trump is down as president, director, and chairman. Weisselberg will remain in his job at the Trump Organization, per the Journal, though changes in his title and responsibilities are being considered. A former prosecutor said keeping a chief financial officer around who's been indicted usually is unwise. "How are insurers and lenders going to rely on what the CFO tells them?" Daniel Zelenko said. "It creates a lot of challenges for a company continuing to do business." With Weisselberg gone, the Florida records now list Trumps atop the subsidiaries. The changes might not affect the way the Trump entities are run, per the Post, but could avoid issues with regulators or other businesses springing from listing someone under indictment as an officer. Weisselberg has worked for the Trumps since 1973. (Read more Allen Weisselberg stories.)

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