Trump’s biographer says the Trump Organization is ‘going out of business’

• In the year Author Tim O’Brien, who wrote Trump Nation in 2005, said Trump Org would be out of business.
• The prediction comes after Trump’s longtime CFO took a plea deal and admitted that the Trump Org had been exempt from payroll taxes for 15 years.
• “I think a lot of that will come to a head in the fall,” O’Brien told MSNBC.

In 2005, former President Donald Trump’s acclaimed biographer predicted that the Trump Organization would soon go out of business.

Tim O’Brien, author of Trump Nation, said in an interview with MSNBC on Friday that there are various signs of a collapse.

One of those signs was Trump’s longtime chief financial officer, Alan Weiselberg, who told Newsweek last week that he was taking a plea deal. According to Insider’s Laura Italiano, Weiselberg has admitted that the Trump Organization has waived payroll taxes for 15 years under his chief financial officer.

Weiselberg will have to testify against the Trump Organization.

“Weisselberg, if it is found that he lied during that testimony, he could be sentenced to 15 years in prison instead of five months in prison if he was sentenced otherwise,” O’Brien said, according to Newsweek. “So he’s going to be very interested in answering every question that prosecutors have about the broader financial affairs of the Trump Organization.”

O’Brien said the result could create a “windfall” for the Trump Organization to go “out of business.”

“It’s already in a very vulnerable position,” he said in Newsweek. “Donald Trump is in one of the worst businesses imaginable in the age of Covid: urban real estate, and mainly the tourism and hotel businesses, and he has a lot of debt in those businesses and he wants a lot of it himself. He’s financially strapped. I think a lot of that will come to a head in the fall.” .