What Did Michael Cohen Do With $774K In Secret Loans During Trump Campaign?
Michael Cohen reportedly took out a whopping $774,000 in loans during the presidential campaign, raising big new questions about whether he made illicit donations to President Trump’s White House push.
The Wall Street Journal reported Friday night that Trump’s personal lawyer increased a personal credit line by $245,000 in early 2016, and shortly before that he accessed $529,000 from a new mortgage on a condo at Trump World Tower.
Cohen has already admitted to making a six-figure hush money payment to porn star Stormy Daniels in the closing days of the campaign — and he and Trump and new adviser Rudy Giuliani have given several contradictory accounts of that payoff.
The new information suggest that Cohen may have made other similar payoffs to keep damaging information about Trump secret.
Giuliani and other sources have claimed that Trump repaid Cohen for $420,000 in unspecified expenses but have not said what they were for besides the Stormy payoff.
Any payments to help Trump’s campaign could be considered illegal campaign donations and even if they weren’t Cohen likely did not tell banks what the true purpose of the loans were.
Cohen is under investigation by federal prosecutors after special counsel Robert Mueller referred information about his alleged shady deals to the southern district of New York.