August 21, 2018

Well, well, well. Michael Cohen was looking at charges of bank fraud of $20 million and more, but he has cut a deal which will put him in prison for 4 years or so while he admits to campaign finance violations, tax fraud and bank fraud.

Sweet deal, which suggests he rolled all the way over and spilled the beans on Trump. Lest we forget, Cohen paid Stormy Daniels $130,000 in hush money so her story wouldn't actually affect his campaign. That exceeds the $2,700 allowable as a maximum individual contribution to a candidate.

That contribution, of course, is one Donald Trump knew about and is caught on tape approving.

According to CNN, Cohen wanted 3 years in prison in exchange for his plea, but prosecutors insisted on four years. "Cohen was pressing for three years in jail while the prosecutors were seeking up to 50 months," according to the report.

As part of the deal, Cohen admitted his crimes in open court. According to Cohen's statement, he admitted to making two payments to two separate people, one for $150,000 and another for $130,000 and pleaded guilty to counts 7 and 8, concerning payments to Stormy Daniels and Karen McDougall.

And so now we know that Trump aided and abetted a crime and is likely an unindicted co-conspirator.

Preet Bharara:

Update:

Lawfare has the agreement.

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