Former US President Donald Trump's company and its chief financial officer will be charged with investigating alleged tax crimes, US media reported.

Alan Weisberg, 73, surrendered to New York authorities Thursday morning before the expected release of the as-yet-unknown accusations was expected. Trump is not expected to be personally involved in the case. New York has severed business ties with the former president, who has been involved twice.

The Trump Organization is a family holding company that owns hotels, golf clubs, and another real estate. Any criminal charges against him will be the first in a long-term investigation into alleged fraud by the Manhattan District Attorney also the Attorney General.

District Attorney Cyrus Vance's fee is expected to focus on whether Mr. Weisselberg and other company executives have received benefits such as rental apartments or rental cars without correctly reporting them on their tax returns.

Mr. Weisselberg entered the Manhattan Criminal Court building Thursday morning, the New York Times reported. He and at least one other Trump official are expected to appear in court later that day. Trump and his allies say the investigation is politically motivated. In a statement this week, Mr. Weisselberg said the case relates to "matters that are common practice in American business and are in no way a crime."

However, if the company is found guilty, some business partners could draw a line in their relationship with Trump, and the company could be fined. For example, New York has announced that it will terminate contracts with the company to manage slides, carousels, and golf courses following the riots at the US Capitol.

Media caption A look back at Trump's tumultuous four years

Daniel Goldman, a senior attorney in the US House of Representatives in 2019 for Trump's first impeachment trial, wrote on Twitter that the allegations could cause creditors to withdraw their loans, which could cause the Trump organization to go bankrupt.

The investigation will also consider Trump's eight-year personal and corporate tax returns received from prosecutors after a lengthy trial that ended in the Supreme Court in February.