Trump Org controller deemed hostile at trial, pins fraud on embattled CFO Allen Weisselberg - Insurance News | InsuranceNewsNet

InsuranceNewsNet — Your Industry. One Source.™

Sign in
  • Subscribe
  • About
  • Advertise
  • Contact
Home Now reading Regulation News
Topics
    • Advisor News
    • Annuity Index
    • Annuity News
    • Companies
    • Earnings
    • Fiduciary
    • From the Field: Expert Insights
    • Health/Employee Benefits
    • Insurance & Financial Fraud
    • INN Magazine
    • Insiders Only
    • Life Insurance News
    • Newswires
    • Property and Casualty
    • Regulation News
    • Sponsored Articles
    • Washington Wire
    • Videos
    • ———
    • About
    • Advertise
    • Contact
    • Editorial Staff
    • Newsletters
  • Exclusives
  • NewsWires
  • Magazine
  • Newsletters
Sign in or register to be an INNsider.
  • AdvisorNews
  • Annuity News
  • Companies
  • Earnings
  • Fiduciary
  • Health/Employee Benefits
  • Insurance & Financial Fraud
  • INN Exclusives
  • INN Magazine
  • Insurtech
  • Life Insurance News
  • Newswires
  • Property and Casualty
  • Regulation News
  • Sponsored Articles
  • Video
  • Washington Wire
  • Life Insurance
  • Annuities
  • Advisor
  • Health/Benefits
  • Property & Casualty
  • Insurtech
  • About
  • Advertise
  • Contact
  • Editorial Staff

Get Social

  • Facebook
  • X
  • LinkedIn
Newswires
Regulation News RSS Get our newsletter
Order Prints
November 15, 2022 Regulation News
Share
Share
Post
Email

Trump Org controller deemed hostile at trial, pins fraud on embattled CFO Allen Weisselberg

New York Daily News, The (NY)

The loyal controller of the Trump Organization was declared a hostile witness Monday as he sought to absolve his longtime employer of criminal wrongdoing for a multi-year tax fraud scheme by pinning it all on his boss.

Testifying for the prosecution under immunity, Jeffrey McConney, a senior vice president, admitted to regularly helping executives cheat on their taxes while working down the hall from Donald Trump on Fifth Ave.

The primary beneficiaries, said the 67-year-old McConney, were the senior-most Trump Org executives outside of the Trump family: his boss, Chief Financial Officer Allen Weisselberg, and the company’s chief operating officer Matthew Calamari.

For years, both men and their adult sons and wives enjoyed company-provided rent-free apartments and Mercedes car leases on which they didn’t pay taxes. McConney even signed off on a $6,000 payroll check for Weisselberg’s wife, Hilary, one December so she’d qualify for Social Security — despite having never worked for the real estate business.

McConney, who oversaw the payroll department at the Trump Org, claimed the fraud was not known to the company or for its benefit, as the Manhattan district attorney has alleged. He said it was solely for Weisselberg’s enrichment — who’s already been convicted, having pleaded guilty in August to felonies he faced alongside the Trump entities in exchange for a reduced sentence.

“Allen was the boss. Who was I gonna tell? I wasn’t gonna confront him about it. I wasn’t gonna argue with him. This was what Allen wanted,” McConney told Trump Org lawyer Susan Necheles on cross-examination.

McConney acknowledged engaging in illegal activity multiple times but claimed he hadn’t known it at the time. He tried at one point to walk back an answer he gave last week about Weisselberg once telling him Trump was personally aware of the tax cheating, which McConney also told a grand jury. He told Necheles he’d feared prosecutors would accuse him of perjury for changing his answer at trial.

“I remember my conversation with Mr. Weisselberg; I don’t remember him mentioning Mr. Trump,” he said.

On redirect, an exasperated Assistant District Attorney Joshua Steinglass succeeded in his second request to Judge Juan Merchan to have McConney declared an adverse witness. He argued the controller was being “unbelievably” evasive and refusing “to speak English” compared to his demeanor under questioning by Necheles. Judge Merchan agreed it was “clear to the average observer” McConney was a more helpful witness to the defense.

McConney was granted immunity after testifying before the grand jury that brought the indictment against Weisselberg and the Trump companies. Jurors have learned he’s been in close contact with Trump Org lawyers leading up to the trial and throughout his testimony and that the company is paying his lawyers’ fees.

McConney, at times tongue-tied on redirect, told Steinglass that running crimes committed on-the-job up the chain was simply above his pay grade.

“Did you ever bring any of this to Donald Trump’s attention? ‘Hey, the CFO’s making me commit fraud!’” Steinglass asked McConney.

“No,” said McConney, later adding, “I thought if I started refusing or fighting back, I’d probably lose my job.”

Weisselberg, still on the Trump Org’s payroll along with McConney, is expected to take the witness stand on Tuesday. If his testimony satisfies the prosecution and the judge, Judge Merchan will sentence him to five months on Rikers Island.

The criminal case is in a constellation swirling around former President Trump as he nears a possible announcement that he’ll run for a second term.

Also Monday, in a parallel civil case against his family business brought by New York Attorney General Letitia James, a judge appointed retired Judge Barbara Jones to oversee his company’s business dealings while the case plays out.

©2022 New York Daily News. Visit nydailynews.com. Distributed by Tribune Content Agency, LLC.

Older

Georgia Ex-Insurance Chief Oxendine Denies Knowing of Fraud

Newer

A year after Hertel & Brown indictment, key deadlines draw near in Erie federal case

Advisor News

  • Why aligning wealth and protection strategies will define 2026 planning
  • Finseca and IAQFP announce merger
  • More than half of recent retirees regret how they saved
  • Tech group seeks additional context addressing AI risks in CSF 2.0 draft profile connecting frameworks
  • How to discuss higher deductibles without losing client trust
More Advisor News

Annuity News

  • Allianz Life Launches Fixed Index Annuity Content on Interactive Tool
  • Great-West Life & Annuity Insurance Company Trademark Application for “SMART WEIGHTING” Filed: Great-West Life & Annuity Insurance Company
  • Somerset Re Appoints New Chief Financial Officer and Chief Legal Officer as Firm Builds on Record-Setting Year
  • Indexing the industry for IULs and annuities
  • United Heritage Life Insurance Company goes live on Equisoft’s cloud-based policy administration system
More Annuity News

Health/Employee Benefits News

  • Affordability vs. cost containment: What health plans will face in 2026
  • Sick of fighting insurers, hospitals offer their own Medicare Advantage plans
  • After loss of tax credits, WA sees a drop in insurance coverage
  • My Spin: The healthcare election
  • COLUMN: Working to lower the cost of care for Kentucky families
More Health/Employee Benefits News

Life Insurance News

  • Best’s Market Segment Report: Caribbean Insurers’ Reinsurance Costs and Capacity Constraints Moderate, Although Climate Vulnerability Remains
  • Outlook 2026: With recent offerings, life insurance goes high-tech
  • Pioneering businessman, political and social leader Mack Hannah Jr., remembered
  • Allianz Life Launches Fixed Index Annuity Content on Interactive Tool
  • AM Best Affirms Credit Ratings of Orion Reinsurance (Bermuda) Ltd.
Sponsor
More Life Insurance News

- Presented By -

Top Read Stories

More Top Read Stories >

NEWS INSIDE

  • Companies
  • Earnings
  • Economic News
  • INN Magazine
  • Insurtech News
  • Newswires Feed
  • Regulation News
  • Washington Wire
  • Videos

FEATURED OFFERS

Elevate Your Practice with Pacific Life
Taking your business to the next level is easier when you have experienced support.

LIMRA’s Distribution and Marketing Conference
Attend the premier event for industry sales and marketing professionals

Get up to 1,000 turning 65 leads
Access your leads, plus engagement results most agents don’t see.

What if Your FIA Cap Didn’t Reset?
CapLock™ removes annual cap resets for clearer planning and fewer surprises.

Press Releases

  • Prosperity Life Group Appoints Nick Volpe as Chief Technology Officer
  • Prosperity Life Group appoints industry veteran Rona Guymon as President, Retail Life and Annuity
  • Financial Independence Group Marks 50 Years of Growth, Innovation, and Advisor Support
  • Buckner Insurance Names Greg Taylor President of Idaho
  • ePIC Services Company and WebPrez Announce Exclusive Strategic Relationship; Carter Wilcoxson Appointed President of WebPrez
More Press Releases > Add Your Press Release >

How to Write For InsuranceNewsNet

Find out how you can submit content for publishing on our website.
View Guidelines

Topics

  • Advisor News
  • Annuity Index
  • Annuity News
  • Companies
  • Earnings
  • Fiduciary
  • From the Field: Expert Insights
  • Health/Employee Benefits
  • Insurance & Financial Fraud
  • INN Magazine
  • Insiders Only
  • Life Insurance News
  • Newswires
  • Property and Casualty
  • Regulation News
  • Sponsored Articles
  • Washington Wire
  • Videos
  • ———
  • About
  • Advertise
  • Contact
  • Editorial Staff
  • Newsletters

Top Sections

  • AdvisorNews
  • Annuity News
  • Health/Employee Benefits News
  • InsuranceNewsNet Magazine
  • Life Insurance News
  • Property and Casualty News
  • Washington Wire

Our Company

  • About
  • Advertise
  • Contact
  • Meet our Editorial Staff
  • Magazine Subscription
  • Write for INN

Sign up for our FREE e-Newsletter!

Get breaking news, exclusive stories, and money- making insights straight into your inbox.

select Newsletter Options
Facebook Linkedin Twitter
© 2026 InsuranceNewsNet.com, Inc. All rights reserved.
  • Terms & Conditions
  • Privacy Policy
  • InsuranceNewsNet Magazine

Sign in with your Insider Pro Account

Not registered? Become an Insider Pro.
Insurance News | InsuranceNewsNet