Longtime Trump Organization Executive Is Nearing a Plea Deal on Tax Fraud Charges: Report

John Minchillo/AP Photo Allen Weisselberg

Longtime Trump Organization executive Allen Weisselberg is expected to plead guilty to tax fraud charges as part of a possible plea deal with prosecutors investigating a scheme allegedly orchestrated "by the most senior executives" of the company.

Weisselberg, the Trump Organization's longtime chief financial officer, turned himself in to authorities last June, after prosecutors accused him of being part of the alleged tax fraud scheme.

In court documents reviewed by PEOPLE, prosecutors allege Weisselberg avoided paying taxes on more than $1.7 million in income from the Trump Organization from 2005 through this year.

TIMOTHY A. CLARY/AFP via Getty From left: Donald Trump, Allen Weisselberg, Donald Trump Jr.

The Manhattan district attorney's filing called Weisselberg "one of the largest individual beneficiaries" of the alleged tax scheme. The Trump Organization is accused of paying for the rent of Weisselberg's apartment on Riverside Boulevard as well as his utilities, garage expenses and his grandchildren's tuition, prosecutors said.

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The New York Times reports that the plea deal is not expected to require that Weisselberg cooperate with an investigation into former President Donald Trump.

According to the Times, Weisselberg, 75, would have faced up to 15 years in prison but a deal with prosecutors could reduce that sentence to 100 days behind bars.

A hearing in the case is reportedly scheduled for Thursday, after Weisselberg and his attorneys met with a judge, the Times reports. The outlet adds that prosecutors had been hopeful they could persuade Weisselberg to testify against Trump, but he has refused.

Weisselberg has been with the company for 48 years, according to the Trump Organization. He most recently helped run the business alongside Eric and Donald Trump Jr. while their father was president.

The former president, 76, has not been charged and his company has decried the case against Weisselberg as part of a strategy to target him.

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The investigation by Manhattan prosecutors coincides with another long-running probe into the Trump Organization launched by New York Attorney General Letitia James' state office.

The investigations have centered on whether the Trump Organization undervalued or overvalued its property in order to obtain loans and more favorable tax breaks, according to the Times.

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The former president faces a growing list of legal problems now that he's no longer in office, including lawsuits over his push to somehow overturn the 2020 election results in his favor and the ongoing New York investigations.

Last week, reports surfaced that Trump is being investigated for potentially obstructing justice and violating the Espionage Act, according to a now-public search warrant executed at the former president's Mar-a-Lago home recently.

An inventory of the items taken in the search shows 11 sets of classified documents. Some were marked as top secret, which the Wall Street Journal notes should only be available in special government facilities.