Trump discloses payment to Cohen in financial form
17 May, 2018, 01:02 | Author: Priscilla Morrison
In a federal financial disclosure released Wednesday, President Trump acknowledged his $130,000 debt to his attorney, Michael Cohen, for a hush money payment Cohen made to adult film star Stormy Daniels.
The president has claimed that he did not reimburse his attorney for the payment, but in an appearance on Hannity on Fox News a couple of weeks ago, Trump's attorney Rudy Giuliani indicated otherwise.
Trump lists reimbursement to Michael Cohen;... The reimbursement was paid in full in 2017, and Cohen had requested the money for expenses incurred in 2016. "The category of value would be $100,001 - $250,000 and the interest rate would be zero".
Avenatti claimed that the payments suggested that Cohen had been "selling access" to the president through Essential Consultants, an account that was similarly used to pay Daniels $130,000 over her allegations of an affair with Trump.
The ethics office seemed to disagree, annotating the document: "OGE has concluded that the information related to the payment made by Mr. Cohen is required to be reported and that the information provided meets the disclosure requirement for a reportable liability".
Cohen admitted that some of the leaked information was correct, such as payments made to him by business clients AT&T and Novartis. In other words, OGE has determined that Cohen's payment should have been reported previous year.
By comparison, Trump's Mar-a-Lago resort in Florida had revenues of $25.1 million.
The personal financial disclosure report, which is required of top government officials, offers an insight into the United States president's vast property and business network. It indicates that his Washington hotel, a popular spot for lobbyists and Republican aides and among one of his most successful properties, had revenues of over $40 million in 2017.
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