Ex-Trump Organization CFO agrees to testify against Donald Trump's companies in potential criminal trial

The former chief financial officer of the Trump Organization has agreed to testify against Donald Trump's companies in a potential criminal trial, according to new reports published in Rolling Stone and CNN.

Allen Weisselberg expected to plead guilty to a 15-year tax fraud scheme this Thursday.

Citing a "person familiar with the matter," CNN reported that Weisselberg has agreed to testify against Trump's businesses if the case moves forward.

"As part of Weisselberg’s plea deal, he has agreed to testify against The Trump Corporation and the Trump Payroll Corporation at trial, which is scheduled for October," Rolling Stone reported, citing two unnamed sources. "One of the sources said that while Weisselberg is agreeing to testify, that does not mean he necessarily will; it depends on whether prosecutors decide to call him."

Although Trump himself has not been charged at this stage, nor any members of his family, the charges deal a major blow to the Republican ex-president who has suggested he could run for the White House again in 2024.

The Trump Organization and Weisselberg were slapped with 15 felony counts including a scheme to defraud, conspiracy, grand larceny and falsifying business records.

Weisselberg is accused of evading taxes on $1.7 million of income over 15 years, according to the indictment. He is viewed as the gatekeeper of the Trump Organization’s secrets.

Weisselberg is expected to receive a five-month prison sentence, according to CNN.

New York prosecutors had been trying to get Weisselberg to cooperate with their broad investigations into the Trump Organization’s finances. But he is reportedly not willing to help beyond his testimony.

"Still, his potential testimony could pose a severe threat to Trump’s companies," Rolling Stone reported. "This possible testimony, which allegedly implicates Trump’s businesses, could be key to prosecutors’ securing a guilty verdict against these companies. When a company is found to have engaged in criminal conduct, significant fines can pile up quickly — potentially leading to its demise."

With additional reporting by AFP