Copping a plea deal with federal prosecutors in New York, 51-year-old former Trump personal attorney Michael Cohen surrendered to the FBI, facing charges for bank fraud, tax evasion and violating campaign finance laws. Today’s announcement created euphoria in the press, hoping, that by snagging Cohen they had a better shot of getting President Donald Trump. Cohen’s tax and bank fraud charges have little to do with Trump, more related to wheeling-and-dealing in New York’s real estate and taxi businesses. Campaign finance violations stem from payouts to silence Stormy Daniels and Susan McDougall, both claiming they had affairs with Trump in 2006. After striking the plea deal, Cohen plans to go to U.S. District Court Court in Lower Manhattan today. Federal prosecutors hope that Cohen’s willing to cooperate with Special Counsel Robert Mueller investigating Trump’s alleged 2016 Russian collusion.
Working with Trump for over 10 years, federal prosecutors hope that Cohen sheds light on Trump’s shenanigans while managing his New York real estate empire. While there’s no cooperation deal with the Special Counsel, Mueller’s team hopes that Cohen helps the ongoing probe of Russian meddling and alleged Trump campaign collusion in the 2016 election. “The guy who knows where all the bodies are buried,” said Seth Hettena,” an author and journalist specializing in Trump’s business dealings. Like others out to get Trump, Hettena hopes that Cohen’s plea deal leads to more dirt on Trump, the ultimate prize in any investigation. “Michael Cohen has great insight into the real estate market,” Trump said of Cohen in a New York Post interview back in 2007. “He has invested in my buildings because he likes to make money—and he does,” Trump boasted about his relationship to Cohen.
Raiding Cohen’s home and office April 9, the FBI has a treasure trove of information on Cohen’s business practices. Nabbing Evgeny Friedman, the so called “Taxi King,” presents problems for Cohen’s taxi business. “The government now has a strong inside witness who can assist in explaining many of Cohen’s business activities and potential fraud schemes, especially when it comes to valuing the medallions for loan purposes,” said Michael Volkov, a veteran N.Y. defense attorney. Whatever shady practices went down with N.Y. City taxi medallions is anyone’s guess. “Gene Friedman and I are not partners and have never been partners in this business or any other,” said Cohen, quoted in Hettena’s book “Trump/Russia: A Definitive History.” Cohen has a long history of dealing with the Trump Organization, acting like an enforcer when Trump’s businesses associates didn’t perform.
If Cohen’s fast-and-loose business practices were not enough, arranging to pay porn star Stephanie Clifford, AKA Stormy Daniels, $130,000 only two weeks before the Nov. 8, 2016 presidential election could spell doom for the president. Cohen has already admitted to the press he made the payment at the request of a “presidential candidate,” namely, Donald Trump. Cohen insisted he didn’t violate federal campaign finance laws, paying Daniels from a home equity line of credit. Trump denied April 5 on Air Force One, five days before the FBI raided Cohen’s home and office, that he knew anything about Cohen’s payment to Stormy. Trump admitted in a financial disclosure form filed with the Office of Government Ethics that he reimbursed Cohen. Former Playboy centerfold Karen McDougal claims she had a year-long affair with Trump in 2006-2007, also covered up by Cohen.
Cohen allegedly had a role in getting American Media Inc., the parent company of the National Enquirer, to buy McDougal’s story of her tryst with Trump, which was then never published. McDougal blamed Cohen for conspiring with her former attorney to prevent the story from ever going public. All told, Cohen had his own shady business dealings independent of Trump setting off red flags to the U.S. Attorney in New York’s Southern District. Whatever money was paid to Stormy and McDougal to keep their stories out of the news before the Nov. 8, 2018 election, it violated federal election laws. With Special Counsel Robert Mueller pursuing the Russian collusion probe, it’s Cohen’s hush money that could bring down Trump. Trump’s both denied then admitted that he reimbursed Cohen money paid to Daniels and McDougal, both highly illegal under federal election laws.
Today’s conviction of former Trump campaign chairman Paul Manafort on eight-of-eighteen charges related to 2006 overseas consulting work in Ukraine creates bad PR for the White House. Already under siege with Mueller’s Russian collusion investigation, Manafort’s conviction doesn’t help Republicans chances to hold on to the House and Senate in November’s Midterm elections. When you add to that Cohen’s plea bargain, it’s been a bad day for Trump. Cohen’s legal problems threaten to drag Trump down, especially payouts to Daniels and McDougal to buy their silence before the Nov. 8, 2016 election. Anyway you cut it, Trump’s got a real problems explaining why he reimbursed Cohen for cash paid to Daniels and MdDougal. More denials from Trump only fuel the hue-and-cry for impeachment, something certain if Democrats take over the House in the Midterm elections.
