Allen Weisselberg, the recently indicted Trump Group chief financial officer, will no longer serve as the director and chief financial officer of Trump International Golf Club Scotland from Thursday.
A document submitted to the British Private Companies Registry on Thursday announced the “termination” of Wesselberg’s directorship. Another application for suspension on the same day also indicated that his position as a “person with significant control” was “terminated”, which was the designation of the company’s chief executive. It is not clear from the document who initiated the termination.
Just a week after Wesselberg and the Trump Organization received 15 indictments, his position at Trump International Golf Club in Scotland ended, a holding company that owned Trump’s Aberdeenshire Golf Resort. Company, a week ago he received 15 prosecutions including major theft, tax fraud and conspiracy. , And ultimately neglected to pay more than 800,000 U.S. dollars in owed taxes. The indictment also alleges that Wesselberg evaded paying taxes for the Trump Organization’s $1.7 million fringe benefit.
Both Wesselberg and the Trump Organization have pleaded not guilty to these charges. Weisselberg seems to have retained his position as the organization’s chief financial officer.Former president Donald TrumpDonald Jr. and his eldest son Eric Trump Now they are the only two directors.
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Weisselberg’s departure from the Scottish Golf Club may be a response to pressure from some Scottish lawmakers and the global rights activist network Avaaz, who called for an “unexplainable wealth” investigation into Trump’s Scottish golf business. In February of this year, the court rejected the motion to do so, but Avaaz filed a petition requesting a review of the court’s decision.
A British law called the “Unknown Wealth Order” or “McMafia Act” allows the authorities to inspect suspicious finances and any incidental records to minimize money laundering and related financial crimes.
The Scottish government can apply this law to investigate how the Trump Organization can fund the renovation of his Scottish golf course, even if they are not profitable.
Trump International Golf Course Aberdeen lost approximately US$1.5 million in 2019 and has recorded financial losses for seven consecutive years. It also received $61.1 million in interest-free loans from the Trump Organization. According to reports, Trump spent more than US$300 million in cash to purchase and develop his golf course in Scotland, but did not see any return. Reuters.
Weisellberg’s departure will not change the status of any pending investigations in Scotland. Regarding what financial information companies must report, the laws in the United Kingdom are stricter than those in the United States. British companies must disclose total income, profits, directors’ fees, dividends and outstanding loans.
In the United States, only public companies that are not required by the Trump Organization need to disclose this information.
Weekly newspaper Weisselberg’s legal team was contacted for comment, but no response was received before the publication time.
