Michael Cohen, Trump’s Former Attorney, Expected to Enter Guilty Plea

Federal authorities investigating whether Cohen committed bank and tax fraud have zeroed in on well over $20 million in loans obta

Federal authorities investigating whether Cohen committed bank and tax fraud have zeroed in on well over $20 million in loans obta

President Donald Trump's former personal lawyer, Michael Cohen, pleaded guilty in NY on August 21 to five counts of tax fraud, one count of making false statements to a financial institution, and one count of making an excessive campaign contribution.

A spokesman for the USA attorney's office for the Southern District of NY declined to comment.

Cohen's guilty plea directly implicates President Trump in related campaign finance violations detailed in Common Cause complaints.

This story has not been edited by Firstpost staff and is generated by auto-feed.

The loans are part of the investigation into whether Cohen committed bank and tax fraud, and for possible campaign law violations linked to a $US130,000 payment to adult film star Stormy Daniels.

Swiss drugmaker Novartis AG has said it had paid Cohen almost $1.2 million in a consulting deal; US telecommunications company AT&T Inc. said it made payments of $600,000; and South Korea's Korea Aerospace Industries Ltd. said it hired him for $150,000.

Cohen - long the self-professed "fixer" for Trump - pleaded guilty after prosecutors warned that he risked more than a dozen years in prison, according to a person familiar with the matter.

Michael Cohen's plea on August 21 comes amid mounting problems for the US president. Cohen is pressing for three years but prosecutors are seeking 50 months.

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Donald Trump has denied having affairs with the women. His lawyer Rudy Giuliani has said the payments were made to spare Mr Trump and his family embarrassment and were unrelated to the campaign.

Trump's administration has continued to maintain that Michael Cohen has no incriminating information regarding Donald Trump.

ABC News reports the tax charges stem from Cohen's personal business dealings and investments in real estate and the taxi industry.

Tuesday also brought an update to the public understanding about Cohen's role in the Russian Federation investigation.

Cohen made millions of dollars from these arrangements, but when they were revealed after the Federal Bureau of Investigation raids on his home and office, the companies involved - which included AT&T and pharma giant Novartis - were chastened.

Cohen also lied to a financial institution by failing to disclose more than $14 million in debt and obtaining a $500,000 home equity line of credit he wasn't entitled to, Khuzami said. "You and your client completely misplayed this". McDougal says she had a 10-month affair with Trump a decade ago, which the White House has denied.

Cohen, as CBS News has previously reported, has been under intense pressure to cooperate with federal investigators.

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