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- Michael Cohen said Allen Weisselberg should cooperate with prosecutors after being charged Thursday.
- "Weisselberg now knows what handcuffs feel like as well as being placed in a cell," he told Insider.
- Manhattan prosecutors want the Trump Organization CFO to "flip" as part of their investigation.
- See more stories on Insider's business page.
Former Trump Organization executive Michael Cohen says Allen Weisselberg should cooperate with Manhattan prosecutors after the CFO appeared in court Thursday to face criminal charges.
"Weisselberg now knows what handcuffs feel like as well as being placed in a cell," Cohen told Insider. "As the pressure by prosecutors increase on him and his sons, the smart money would be on him cooperating for leniency."
A 15-count grand jury indictment accuses Weisselberg and the Trump Organization of a sweeping tax-fraud scheme, in which prosecutors say they systematically underreported executive compensation. According to prosecutors, Weisselberg avoided paying taxes on $1.7 million on his own income over the course of 15 years.
Weisselberg turned himself in at 6:15 a.m., and appeared in court Thursday afternoon flanked by two assistant district attorneys and in handcuffs.
Prosecutors have for months pressured Weisselberg, who has worked for the Trump Organization for 40 years, into cooperating in their investigation. They have subpoenaed his personal finances, as well as documentation from his son and his grandchildren's school.
The investigation is ongoing, and Weisselberg may still yet agree to cooperate. The overall scope of the investigation includes other potential crimes, such as whether the Trump Organization misrepresented the value of its properties in order to pay little in taxes while receiving favorable bank loan and insurance rates.
Cohen served as an executive vice president for the Trump Organization for years, as well as a personal lawyer for former President Donald Trump.
He was imprisoned after pleading guilty to a scheme that involved facilitating an illegal hush-money payment to Stormy Daniels, an adult film actress who said she had an affair with Trump, ahead of the 2016 election. Cohen remains under house arrest.
The scheme triggered the Manhattan District Attorney's investigation that led to charges against Weisselberg and the Trump Organization. Both defendants pleaded not guilty to the charges in court Thursday.
Trump himself has sought to depict the investigation as politically motivated.
Assistant District Attorney Carey Dunne said in court Thursday that the grand jury bringing the charges was insulated from any political concerns.
"It's not about politics," Dunne said. "This investigation, which is ongoing, as been thorough, careful, and proper."