gpolit.com
gpolit.com May 20, 2018


Trump's Financial Disclosure Of 2017 Expenses Shows Previously Unreported Payment To Cohen

17 May 2018, 02:50 | Erma Lawrence

Camera IconUS President Donald Trump's personal lawyer Michael Cohen leaves the US Courthouse in New

US President Donald Trump's personal lawyer Michael Cohen leaves the US Courthouse in New York

President Donald Trump acknowledged for the first time in an ethics disclosure released on Wednesday that he repaid more than $100,000 to former personal attorney Michael Cohen, renewing questions about Trump's ties to porn star Stormy Daniels.

Rudy Giuliani, who recently became the Republican president's new personal attorney, has said Trump reimbursed Cohen for the original, $130,000 payment, which was made shortly before Trump's victory in the November 8, 2016 presidential election.

Daniels claims she had an affair with Trump.

More recently, former NY mayor Rudy Giuliani - newly hired as part of Trump's legal team - said in interviews that Trump had reimbursed Cohen for the payment.

One week after Michael Avenatti released financial records indicating Cohen used the same shell company to pay his client Stormy Daniels and receive payments from firms, The New Yorker published a bombshell report by Ronan Farrow detailing why those records were leaked.

A footnote to disclosures submitted Tuesday to the Office of Government Ethics said Cohen had incurred "expenses" on Trump's behalf in 2016 of between $100,001 and $250,000.

The Office of Government Ethics found on Wednesday that Mr Trump ought to have revealed the payment in his previous financial disclosure.

Trump's acknowledgment that he reimbursed Cohen puts the president "at the middle of all of the campaign finance violations", said Paul S. Ryan, head of litigation at Common Cause.

The document filed by President Trump states that he disclosed the payment "in the interest of transparency" and not because he was required to do so.

Donald Trump and his new lawyer Rudy Giuliani
Camera Icon Donald Trump and his new lawyer Rudy

The Mar-a-Lago resort, where the president frequently escaped for winter weekends, collected more than $25 million last year, down from $37 million from last year's report.

"Mr Cohen sought reimbursement of those expenses and Mr Trump fully reimbursed Mr Cohen in 2017", it said. The disclosure was not included in Trump's 2017 filing. We've recently learned Cohen was subsequently reimbursed by Trump.

The White House did not respond to requests for comment to clarify the reason for Mr Trump's payment to Mr Cohen. "These aren't people, these are animals, and we're taking them out of the country at a level and at a rate that's never happened before". "I am providing both reports to you because you may find the disclosure relevant to any inquiry you may be pursuing regarding the President's prior report that was signed on June 14, 2017", Apol tells Rosenstein.

Details of Mr. Trump's disclosure report from past year. His Doral golf course and resort in Miami took in $75 million.

At least an additional $1.1 million came from operations in the Philippines and Istanbul and at least $558,000 from Panama, where the Trump family had a branded condo and hotel complex, which was renamed earlier this year after a dispute with condo owners.

Trump has at least $315 million in debt, about the same as he reported a year ago. The president owes Deutsch Bank as much as $175 million.

Before taking office, Trump said he shifted day-to-day control of his business to his sons, primarily Eric Trump. Trump can take back control of the trust at any time, and he's allowed to withdraw cash from it as he pleases. Mr. Trump is also still picking up a Screen Actors Guild pension of almost $65,000 from his years as a reality TV host and sometime bit player in movies.

Though it was published three decades ago, his book The Art of The Deal past year generated as much as $1 million.



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