The ex-daughter-in-law of Trump’s CFO handed over boxes of financial records and a laptop to Manhattan prosecutors

Donald Trump attends the D-day Commemorations on June 05, 2019 in Portsmouth, England.

  • Jennifer Weisselberg delivered boxes of financial records and a laptop to prosecutors Thursday.
  • Weisselberg is the ex-daughter-in-law of the Trump Organization’s longtime CFO Allen Weisselberg.
  • She is cooperating with investigations into Trump’s personal finances and those of his company.
  • See more stories on Insider’s business page.

Jennifer Weisselberg handed over boxes of financial records to investigators with the Manhattan District Attorney’s Office on Thursday as part of the investigation into former President Donald Trump’s finances.

Weisselberg is the ex-wife of Barry Weisselberg, son of the Trump Organization’s longtime Chief Financial Officer Allen Weisselberg. Weisselberg’s lawyer previously told Insider’s Jacob Shamsian that she was cooperating with the investigation and had “several boxes of documents” left to deliver.

Weisselberg was seen Thursday morning transporting three boxes of records as well as a laptop from her building, The Washington Post reported.

Duncan Levin, an expert in financial fraud and Weisselberg’s attorney, told Insider he was hired to help her sort through the documents and “turn over documents and information to law enforcement as is helpful.”

Read more: A Trump appointee who drank vodka and had sex on the General Services Administration building’s roof is back with a new political committee, documents show

“She has joint-bank-account information, credit cards, tax records, tax returns – that’s the meat of what we’re looking at to see what types of patterns we might be able to find,” he said.

The Manhattan District Attorney’s Office and the New York attorney general are conducting parallel investigations into Trump’s personal finances and those of the Trump Organization. Weisselberg is cooperating with both offices as they look into whether the former president manipulated the value of his assets for loan and tax purposes.

Weisselberg was married to Barry Weisselberg from 2014 to 2018, and obtained the documents through their divorce. In addition to being CFO at the Trump Organization, his father, Allen Weisselberg, also manages the Trump family’s personal finances.

According to The Post, a subpoena directed Weisselberg to turn over her ex-husband’s records, such as bank and credit card statements, related to the Trump Organization and Central Park’s Wollman Rink, which is run by the company and managed by Allen Weisselberg.

District Attorney Cyrus Vance Jr. has been trying to “flip” Allen Weisselberg and get him to cooperate with the investigation, The Post reported last month. Allen Weisselberg is believed to be a major focus of the criminal investigation into Trump’s finances, which could be in its final stages.

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Manhattan DA’s probe ramps up, placing new scrutiny on Trump’s debt-ridden New York properties

trump tower debt buildings
Banks have now placed three of the four of former President Donald Trump’s real estate holdings on debt “watch lists,” CBS News said.

  • The Manhattan DA probe into former President Donald Trump is heating up, Insider reported on Friday.
  • The investigation is placing new scrutiny on Trump’s commercial properties.
  • Banks have placed three of the former president’s buildings on debt “watch lists,” CBS News said.
  • See more stories on Insider’s business page.

As Manhattan District Attorney Cyrus Vance Jr.’s probe into former President Donald Trump steps up a gear, four of Trump’s New York properties have come under renewed scrutiny.

Trump Tower, Trump International Hotel and Tower, 40 Wall Street, and Trump Plaza have missed lenders’ earning projections for five consecutive years, CBS News reported.

Banks have now placed three of the four real estate holdings on debt “watch lists,” the media outlet said.

Mortgage-payment processors have flagged the loans tied to these three properties due to consistent financial underperformance, CBS said.

Wells Fargo and other banks have told investors that reduced incomes on these holdings, due partly to the COVID-19 pandemic, could result in the properties not generating enough money to cover their mortgage payments, CBS News reported.

In addition to presenting Trump with financial troubles, investigations into these properties could also pose legal challenges.

The Manhattan District Attorney’s office has subpoenaed a New York property tax agency as part of the broad criminal probe, Reuters reported. Prosecutors are looking for signs of possible fraud, the media outlet said.

While Vance’s sprawling probe’s exact scope is not known, court filings suggest that he could be looking into whether Trump and the Trump Organization violated New York laws by manipulating the values of these commercial properties for tax and loan purposes.

The wide-ranging investigation into whether Trump or his businesses violated state tax laws could be reaching its conclusion imminently, Insider reported on Friday.

John Dean, President Richard Nixon’s White House counsel who played a major role in the Watergate scandal, said on Twitter that Trump could be indicted in just a matter of days.

“From personal experience as a key witness, I assure you that you do not visit a prosecutor’s office 7 times if they are not planning to indict those about whom you have knowledge,” Dean’s tweet said.

This refers to Michael Cohen, Trump’s former personal attorney, meeting with prosecutors for the seventh time this week. His latest meeting lasted for over two hours, NBC News reported.

Cohen, who was sentenced to three years in prison after pleading guilty to several felonies, has previously testified to Congress about Trump’s alleged financial mismanagement. In the 2019 testimony, Cohen said that Trump had manipulated the value of assets “when it served his purposes.”

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Manhattan prosecutors could be in the final stages of their wide-ranging investigation into Trump’s finances

Former President Donald Trump.

  • Manhattan DA Cyrus Vance Jr.’s investigation into Donald Trump’s finances is heating up.
  • Vance already has Trump’s taxes and recently hired a renowned prosecutor.
  • Some DOJ veterans expect potential charges before the end of the year, when Vance retires.
  • See more stories on Insider’s business page.

After a months-long battle with Donald Trump over his closely held tax returns, the Manhattan district attorney’s office may finally be in the end stages of its wide-ranging investigation into the former president’s financial dealings.

Trump has repeatedly refused to release his tax returns. But in February, prosecutors notched a major victory when the Supreme Court forced Trump to hand over thousands of pages of his financial information to the DA’s office.

The DA’s investigation is examining whether Trump or his businesses falsely reported the value of properties for tax and loan purposes, which would violate New York law. In the weeks since prosecutors obtained his financial records, the investigation has ramped up significantly, according to media reports and two former prosecutors who spoke to Insider.

“They mean business now,” one source told The New Yorker’s Jane Mayer. The person believed Manhattan district attorney Cyrus Vance Jr.’s investigation had stagnated while Trump was in office and prosecutors were fighting a court battle to get his taxes. But now, the source told Mayer, prosecutors’ questions have become “very pointed – they’re sharpshooting now, laser-beaming.”

“It hit me,” this person added. “They’re closer.”

The clues are there. Vance announced Friday he wouldn’t run for re-election. The move was widely expected, since Vance, who held the DA post since 2010, hasn’t raised funds ahead of this summer’s primary. His final day will be in December, and a former top deputy told Insider he believes Vance will want to make charging decisions before he leaves.

“Vance started the investigation,” Daniel Alonso, now a partner at Buckley LLP, told Insider. “I’m sure he is absolutely pressing to have a decision made on whether to prosecute anyone, whom to prosecute, and for what charges, by the end of the year.”

Jeffrey Cramer, a longtime former federal prosecutor who spent 12 years at the Justice Department, echoed that view and told Insider it wasn’t surprising that the investigation’s pace picked up after the Supreme Court ruling.

“You need documents and tax records to prove these cases. That’s how they rise and fall,” he said. “It’s not witness testimony and emails; those things give context to the money. But this case is all about following the money, so it comes down to the tax records, which prosecutors now have full access to.”

Representatives for Trump and the Trump Organization didn’t immediately respond to Insider’s request for comment for this story.

Vance recruited a veteran prosecutor who worked on organized crime cases

Vance is likely personally involved in the details of the Trump investigation, according to Alonso. Eight candidates are vying to be his successor, though, and Alonso said there’s “significant concern” in New York’s legal community that not all of them are “qualified to oversee a case of this magnitude.”

While virtually all of the candidates have criticized Trump at one point or another, they have mostly focused on local affairs in their campaigns. At a candidate forum in January, they demurred when asked how they’d handle the Trump case and largely avoided injecting political considerations into it.

In the meantime, Vance has set up an experienced team of white-collar prosecutors, including several of his own top officials. He also made the unusual decision in February to hire Mark Pomerantz, a former federal prosecutor who worked on organized-crime cases before joining the law firm Paul, Weiss as a white-collar criminal defense lawyer.

“The team was in very good shape,” Alonso said of Vance’s office. “But the fact that Pomerantz agreed to come into the case strikes me as an indication that there is definitely something substantial there to investigate.”

ProPublica reported in October 2019 that documents showed Trump appeared to keep two sets of books for his properties, suggesting potential financial fraud.

In November 2019, Mother Jones published an investigation that found that Trump might have fabricated a loan to avoid paying $50 million in income taxes. And The New York Times reported in 2018 that Trump used a series of dubious tax schemes to shield a $413 million inheritance from the IRS.

In 2019, an IRS whistleblower came forward and alleged that there were “inappropriate efforts to influence” the agency’s mandatory audit of Trump’s taxes. And late last year, The Times published another bombshell investigation showing that Trump paid just $750 in income taxes in 2016 and 2017.

Mark Pomerantz
Mark F. Pomerantz in 2008.

Cramer pointed to Pomerantz’s previous experience prosecuting organized crime cases – he secured the 1999 conviction of the mob boss John Gotti’s son – and said it could prove particularly useful to Vance’s office as it scrutinizes the Trump Organization.

“Obviously Trump wasn’t running an organized crime outfit. But there are some similarities, depending on how the enterprise, which is the Trump Organization in this case, was structured,” Cramer said.

He noted, however, that Pomerantz’s main value likely lies in his private sector experience.

“If you look at any of the good defense lawyers in the country, most of them are former prosecutors,” Cramer said. “Prosecutors make good defense lawyers because they know both sides of cases. They can wear different hats and that’s critical in helping put together a strong case.”

That said, Alonso cautioned that Vance may choose to not bring charges against Trump at all.

“In investigations of accounting fraud, usually prosecutors suspect, and might even believe, that the CEO has the requisite knowledge and intent, but can’t always prove it,” Alonso said.

The precise scope of Vance’s investigation is unclear, but court filings suggest the office could be examining whether Trump and the Trump Organization broke New York state tax laws by manipulating property values to obtain favorable tax rates and loan terms.

donald trump jr allen weisselberg
Donald Trump, Allen Weisselberg, and Donald Trump Jr.

Now that the Supreme Court has cleared the way for prosecutors to get Trump’s taxes, investigators have access to a potential treasure trove of information about the complex world of Trump’s business activities.

The tax returns themselves, as well as the communications about them, are at the very heart of the probe. Vance hired FTI, a forensic accounting firm, to help pore over the data. Alonso said it could take some time.

“In the main part of the investigation, which is about valuations and about potential tax, bank, and insurance fraud, from what we know in the public record, they need to analyze those millions of pages of documents that they picked up from Mazars,” Alonso said, referring to Trump’s accounting firm. “That’s not something that’s done overnight.”

By the end of the investigation, Alonso said, prosecutors will have a variety of paths to choose from depending on what they find.

“It might be that they charge the Trump organization itself, or one of its affiliated companies,” he said. “It might be that they charge the CFO Allen Weisselberg if he doesn’t cooperate. It might be that they charge one of the Trump children who helps manage the company. Or it might be that they charge a different executive. Or it might be nobody, at the end of the day.”

“If they can’t prove this case beyond a reasonable doubt, they shouldn’t be charging,” he added.

‘You’d better grab yourself some good lawyers’

In other parts of the investigation, prosecutors appear to be dotting I’s and crossing T’s.

Ralph Mastromonaco, an engineer who worked on Trump’s Seven Springs estate in upstate New York – the valuation of which is under scrutiny from prosecutors, according to the Wall Street Journal – was subpoenaed by Manhattan prosecutors in recent weeks. But he told Insider that everything he supplied to prosecutors was already in the public record and filed with the local township of Bedford.

John Dean, President Richard Nixon’s former White House counsel whose testimony about the Watergate scandal led to Nixon’s resignation, said Friday he believed Vance’s office could bring charges against Trump in just a matter of days.

trump flipped
Donald Trump.

Dean based his observation on a Reuters report that said Trump’s former lawyer and fixer, Michael Cohen, was going to meet with Manhattan prosecutors for the seventh time.

Cohen pleaded guilty to several felonies stemming from investigations into Trump by the Manhattan US attorney’s office and the special counsel Robert Mueller. He testified to Congress in 2019 that Trump repeatedly inflated or deflated the value of his assets for loan and tax purposes, respectively, and he has extensively cooperated with prosecutors.

In a Friday morning tweet, Dean wrote that based on “personal experience as a key witness I assure you that you do not visit a prosecutor’s office 7 times if they are not planning to indict those about whom you have knowledge. It is only a matter of how many days until DA Vance indicts Donald & Co.”

Cramer emphasized that the precise timeline of the DA’s investigation is still hard to gauge.

“But when the Manhattan DA’s office has your tax returns and they’re bringing in hired guns like Pomerantz who specialize in this type of work,” he said, “You’d better grab yourself some good lawyers.”

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Manhattan’s DA subpoenaed Steve Bannon’s fundraising records as part of a fraud investigation into his border-wall campaign, report says

steve bannon
Steve Bannon.

  • Manhattan’s DA has subpoenaed financial records relating to Steve Bannon, CNN reported. 
  • The DA is investigating Bannon’s use of funds donated as part of the We Build the Wall campaign.
  • Bannon was pardoned by Donald Trump last month, but he could still face state charges. 
  • Visit the Business section of Insider for more stories.

Manhattan’s district attorney has subpoenaed financial records from Steve Bannon’s crowdfunding campaign to build a wall across the US-Mexican border, sources told CNN. 

According to the report, subpoenas were issued to Wells Fargo, which held the money Bannon raised as part of the We Build the Wall fundraising drive, and GoFundMe, the online platform he used to raise donations. 

A spokesman for Manhattan’s district attorney declined to comment. 

The subpoenas were issued shortly after former President Donald Trump pardoned Bannon on federal conspiracy charges hours before he left the White House last month, according to CNN.

New Jersey’s attorney general has also launched a civil investigation into the We Build The Wall campaign, per CNN. 

Bannon had been charged by federal prosecutors last December along with three other men with defrauding donors out of $25 million in relation to the border-wall project. Bannon was accused of pocketing hundreds and thousands of dollars of the money for his own expenses, and diverting $1 million to pay an alleged co-conspirator. 

The three men involved in the project, and charged alongside Bannon, did not receive a pardon from Trump. All of the men charged have denied any wrongdoing.

But Trump’s presidential pardon only applies to federal charges, meaning that Bannon could still faces charges in a state court.

Insider has contacted Bannon’s attorney for comment. 

Bannon was formerly among the most influential people in Trump’s orbit, serving as campaign manager during Trump’s successful run for the White House in 2016, and afterward appointed White House chief strategist. 

He left the White House 2018, after he was quoted in an exposé by the author Michael Wolf insulting members of Trump’s family and likening the Trump Organization to a crime syndicate.

But the men repaired their relationship before Trump left office, and Bannon used his podcast last year to spread Trump’s false claims that the 2020 election was stolen from him. 

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