Longtime Donald Trump lawyer Michael Cohen pleaded guilty in federal court Tuesday to campaign finance violations linked to a porn star and a Playboy model as well as his former boss – and said he did so 'at the direction' of a candidate for federal office.

Cohen made the stunning statement linking President Donald Trump to his crimes as he pleaded to eight different counts, including those related to porn star Stormy Daniels and former Playboy model Karen McDougal.

Although he didn't mention Trump by name, Trump's former lawyer and fixer spoke in open court about a $130,000 payment as well as a deal he helped negotiate with a publisher involving McDougal.

He said he did so 'in coordination and at the direction of a candidate for federal office,' CNN reported – in an obvious reference to Trump, his former employer. Federal law bars donors from coordinating with a campaign while placing strict limits on the amount of contributions.

Both women claim they had affairs with Trump, and both got payments, Daniels from Cohen directly and McDougal from a publisher.

Cohen made his plea in open court within minutes of a Virginia jury convicting former Trump campaign chairman Paul Manafort on eight counts following his trial on tax and fraud charges.

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Michael Cohen, former personal lawyer to President Donald Trump, leaves his apartment building, in New York, Tuesday, Aug. 21, 2018. Cohen could be charged before the end of the month with bank fraud in his dealings with the taxi industry and with committing other financial crimes, multiple people familiar with the federal probe said Monday

As he landed in West Virginia for what was expected to be a raucous campaign rally Tuesday night with his supporters, Trump said he feels 'badly' for both Cohen and Manafort. But he didn't address the explosive developments as his rally began.

But he did mock the Mueller probe before a crowd of supporters.

'Fake news. Fake. How fake, how fake are they?' Trump asked rhetorically. 'Fake news and the Russian witch hunt. We got a whole big combination. Where is the collusion? You know they’re still looking for collusion. Where is the collusion? Find some collusion. We want to find the collusion,' Trump said.

A federal charging document lays out how Cohen helped deal with a person identified as 'Individual-1's relationships with women' by identifying stories and keeping them from being published.

The documents note that the individual was a candidate for president.

Cohen negotiated $150,000 payment to 'model and actress' and made a $130,000 payment to 'an adult film actress,' according to the documents stated the offenses he pleaded guilty to. Cohen caused and made the payments 'in order to influence the 2016 presidential election,' he is admitting.

The White House didn't hold a press briefing amid the turmoil, instead confronting reporters only through the safer medium of conference calls. Trump didn't mention either bombshell development in his speech in West Virginia hours after they occurred.

Cohen as part of the plea gets jail time of up to four years – in a deal that apparently does not include cooperating with Special Counsel Robert Mueller's probe. Nevertheless, some legal experts were not ruling out cooperation, and he was facing more charges than he pleaded to.

Cohen appeared in federal court on Tuesday following a series of repots he would plead guilty to federal crimes that would land him in jail for up to four years.

According to U.S. attorney Robert Khuzami, Cohen failed to report income of $4.1 million, costing the U.S. Treasury approximately $1.3 million.

He failed to disclose $14 million in dead when he applied for a home-equity loan he used to get funds to pay the porn star.

Khuzami also laid out Cohen's campaign finance guilty plea as it related to Daniels and McDougal – though he never mentioned the name of the president or the porn star.

'In addition what he did was he worked to pay money to silence two women who had information that he believed would be detrimental to the 2016 campaign and to the candidate and the campaign,' Khuzami said.

Cohen pleaded guilty to campaign finance violations 'in coordination and at the direction of a candidate for federal office'

Charging documents lay out millions in unreported income by Cohen

Documents also reference Trump as 'Individual-1'

'In addition, Mr. Cohen sought reimbursement for that money by submitting invoices to the candidate's company which were untrue and false. They indicated that the reimbursement was for services rendered for the year 2017, when in fact those invoices were a sham. He provided no legal services for the year 2017 and it was simply a means to obtain reimbursement for the unlawful campaign contribution,' Khuzami said.

'There is no allegation of any wrongdoing against the President in the government's charges against Mr. Cohen,' Trump lawyer Rudy Giuliani said in a statement. 'It is clear that, as the prosecutor noted, Mr. Cohen's actions reflect a pattern of lies and dishonesty over a significant period of time.'

In addition what he did was he worked to pay money to silence two women who had information that he believed would be detrimental to the 2016 campaign and to the candidate and the campaign

Sources told NBC about the negotiations over a possible plea Tuesday morning, noting that no deal had been reached. Word of the talks followed reports over the weekend that Cohen is being investigated for a $20 million bank fraud.

ABC then reported Cohen had reached an agreement with prosecutors in the Southern District of New York. Cohen surrendered to the FBI in advance of a scheduled 4 pm court appearance, according to CNN.

The campaign finance violations related to the $130,000 payment Cohen made from his own funds to porn star Stormy Daniels, who claims she had an affair with Trump.

Daniels, whose real name is Stephanie Clifford, claims she had an affair with Trump. Among the charges Cohen will plead guilty to are campaign finance violations in connection to a $130,000 payment he made to Daniels

What Michael Cohen pleaded guilty to doing Five counts of tax evasion. Avoided declaring $4.1 million in income earned in 2012 through 2016, depriving the government of about $1.3 million in tax revenue. Making false statements to a bank. Failed to disclose a $14 million line of credit when taking out loans, including for the purchase of an $8.5 million summer home. Declared a net worth of $40 million when applying for a home equity loan, omitting the $14 million debt. Campaign finance violations. Helped deal with 'Individual-1's relationships with women' by identifying stories and keeping them from being published. Negotiated $150,000 payment to 'model and actress' and made a $130,000 payment to 'an adult film actress.' He caused and made the payments 'in order to influence the 2016 presidential election.' He faced up to 65 years in prison for what he is being charged with had he not pleaded guilty. Advertisement

Trump said in April that he did not know about payments Cohen made to Daniels – although lawyer Rudy Giuliani later said Trump reimbursed his longtime lawyer for the funds.

Cohen admitted the payment was a violation of strict federal limits on political contributions. Prosecutors deemed the payment an in-kind contribution to the Trump campaign since it helped shelve potentially damaging information.

Cohen agreed to jail time as part of the agreement.

Despite the array of charges, jail time, and restitution, Cohen was not expected to reach an agreement to cooperate with authorities, the New York Times reported.

Such a status, if maintained, would spare President Trump from having one of his closest and most knowledgable associates aiding an inquiry the president has termed a 'witch hunt.'

Nevertheless, Trump faced the political prospect of seeing one of his closest longtime advisors go to jail over serious federal crimes. Just as the news broke on Cohen's plans, the White House was holding a press call on Trump's plans to travel the country in support of Republicans.

Cohen was expected to plead guilty to campaign finance violations – a likely reference to a $130,000 payment he made to porn star Stormy Daniels, who claims she had an affair with Trump

Cohen also negotiated a $150,000 payment by American Media Inc. to former Playboy cover model Karen McDougal, who claims she had a year-long affair with Trump

Cohen pleaded guilty to a campaign finance violation in relation to a $150,000 payment that American Media Inc. made to Playboy model Karen McDougal. AMI publisher David Pecker (c) was part of the deal

Prosecutors in Cohen were negotiating with a man involved in myriad business and political deals involving the president, including the negotiation of a non-disclosure agreement with porn star Stormy Daniels, and talks on an effort to build a Trump Tower in Moscow that fell through.

However, the New York Times reported Tuesday afternoon that the deal did not include an agreement to cooperate.

Cohen in June resigned his post as deputy finance chair of the Republican National Committee once it came out he was under criminal investigation

Mueller's final tally: Trump's inner circle of convicts and turncoats - and 25 wanted Russian trolls GUILTY: MICHAEL FLYNN Pleaded guilty to making false statements in December 2017. Awaiting sentence Flynn was President Trump's former National Security Advisor and Robert Mueller's most senior scalp to date. He previously served when he was a three star general as President Obama's director of the Defense Intelligence Agency but was fired. He admitted to lying to special counsel investigators about his conversations with a Russian ambassador in December 2016. He has agreed to cooperate with the special counsel investigation. GUILTY AND JAILED: MICHAEL COHEN Pleaded guilty to eight counts including fraud and two campaign finance violations in August 2018. Pleaded guilty to further count of lying to Congress in November 2018. Sentenced to three years in prison and $2 million in fines and forfeitures in December 2018 Cohen was investigated by Mueller but the case was handed off to the Southern District of New York,leaving Manhattan's ferocious and fiercely independent federal prosecutors to run his case. Cohen was Trump's longtime personal attorney, starting working for him and the Trump Organization in 2007. He is the longest-serving member of Trump's inner circle to be implicated by Mueller. Cohen professed unswerving devotion to Trump - and organized payments to silence two women who alleged they had sex with the-then candidate: porn star Stormy Daniels and Playboy model Karen McDougal. He admitted that payments to both women were felony campaign finance violations - and admitted that he acted at the 'direction' of 'Candidate-1': Donald Trump. He also admitted tax fraud by lying about his income from loans he made, money from taxi medallions he owned, and other sources of income, at a cost to the Treasury of $1.3 million. And he admitted lying to Congress in a rare use of the offense. The judge in his case let him report for prison on March 6 and recommended he serve it in a medium-security facility close to New York City. GUILTY AND JAILED: PAUL MANAFORT Found guilty of eight charges of bank and tax fraud in August 2018. Sentenced to 47 months in March 2019. Pleaded guilty to two further charges - witness tampering and conspiracy against the United States. Jailed for total of seven and a half years in two separate sentences. Additionally indicted for mortgage fraud by Manhattan District Attorney, using evidence previously presented by Mueller Manafort worked for Trump's campaign from March 2016 and chaired it from June to August 2016, overseeing Trump being adopted as Republican candidate at the Republican National Convention in Cleveland. He is the most senior campaign official to be implicated by Mueller. Manafort was one of Washington D.C.'s longest-term and most influential lobbyists but in 2015, his money dried up and the next year he turned to Trump for help, offering to be his campaign chairman for free - in the hope of making more money afterwards. But Mueller unwound his previous finances and discovered years of tax and bank fraud as he coined in cash from pro-Russia political parties and oligarchs in Ukraine. Manafort pleaded not guilty to 18 charges of tax and bank fraud but was convicted of eight counts in August 2018. The jury was deadlocked on the other 10 charges. A second trial on charges of failing to register as a foreign agent due in September did not happen when he pleaded guilty to conspiracy against the United States and witness tampering in a plea bargain. He was supposed to co-operate with Mueller but failed to. Minutes after his second sentencing hearing in March 2019, he was indicted on 16 counts of fraud and conspiracy by the Manhattan District Attorney Cyrus Vance Jr., using evidence which included documents previously presented at his first federal trial. The president has no pardon power over charges by district and state attorneys. GUILTY AND GOING TO WEEKEND JAIL: RICK GATES Pleaded guilty to conspiracy against the United States and making false statements in February 2018. Sentenced to 45 days weekend jail and three years probation, December 17, 2018 Gates was Manafort's former deputy at political consulting firm DMP International. He admitted to conspiring to defraud the U.S. government on financial activity, and to lying to investigators about a meeting Manafort had with a member of congress in 2013. As a result of his guilty plea and promise of cooperation, prosecutors vacated charges against Gates on bank fraud, bank fraud conspiracy, failure to disclose foreign bank accounts, filing false tax returns, helping prepare false tax filings, and falsely amending tax returns. GUILTY AND JAILED: GEORGE PAPADOPOLOUS Pleaded guilty to making false statements in October 2017. Sentenced to 14 days in September 2018, and reported to prison in November. Served 12 days and released on December 7, 2018 Papadopoulos was a member of Donald Trump's campaign foreign policy advisory committee. He admitted to lying to special counsel investigators about his contacts with London professor Josef Mifsud and Ivan Timofeev, the director of a Russian government-funded think tank. GUILTY AND JAILED: RICHARD PINEDO Pleaded guilty to identity fraud in February 2018. Sentenced to a year in prison Pinedo is a 28-year-old computer specialist from Santa Paula, California. He admitted to selling bank account numbers to Russian nationals over the internet that he had obtained using stolen identities. GUILTY AND JAILED: ALEX VAN DER ZWAAN Pleaded guilty to making false statements in February 2018. He served a 30-day prison sentence and was deported to the Netherlands on his release Van der Zwaan was a Dutch attorney for Skadden Arps who worked on a Ukrainian political analysis report for Paul Manafort in 2012. He admitted to lying to special counsel investigators about when he last spoke with Rick Gates and Konstantin Kilimnik. His law firm say he was fired. GUILTY: W. SAMUEL PATTEN Pleaded guilty in August 2018 to failing to register as a lobbyist while doing work for a Ukrainian political party. Sentenced to three years probation April 2019 Patten, a long-time D.C. lobbyist was a business partner of Paul Manafort. He pleaded guilty to admitting to arranging an illegal $50,000 donation to Trump's inauguration. He arranged for an American 'straw donor' to pay $50,000 to the inaugural committee, knowing that it was actually for a Ukrainian businessman. Neither the American or the Ukrainian have been named. CHARGED: KONSTANTIN KILIMNIK Indicted for obstruction of justice and conspiracy to obstruct justice. At large, probably in Russia Kilimnik is a former employee of Manafort's political consulting firm and helped him with lobbying work in Ukraine. He is accused of witness tampering, after he allegedly contacted individuals who had worked with Manafort to remind them that Manafort only performed lobbying work for them outside of the U.S. He has been linked to Russian intelligence and is currently thought to be in Russia - effectively beyond the reach of extradition by Mueller's team. INDICTED: THE RUSSIANS Twenty-five Russian nationals and three Russian entities have been indicted for conspiracy to defraud the United States. They remain at large in Russia Two of these Russian nationals were also indicted for conspiracy to commit wire fraud and 11 were indicted for conspiracy to launder money. Fifteen of them were also indicted for identity fraud. Vladimir Putin has ridiculed the charges. Russia effectively bars extradition of its nationals. The only prospect Mueller has of bringing any in front of a U.S. jury is if Interpol has their names on an international stop list - which is not made public - and they set foot in a territory which extradites to the U.S. INDICTED: MICHAEL FLYNN'S BUSINESS PARTNERS Bijan Kian (left), number two in now disgraced former national security adviser Mike Flynn's lobbying company, and the two's business partner Ekim Alptekin (right) were indicted for conspiracy to lobby illegally. Kian, an Iranian-American was arrested and appeared in court charged with a conspiracy to illegally lobby the U.S government without registering as a foreign agent. Their co-conspirator was Flynn, who is called 'Person A' in the indictment and is not charged, offering some insight into what charges he escaped with his plea deal. Kian, vice-president of Flynn's former lobbying firm, is alleged to have plotted with Alptekin to try to change U.S. policy on an exiled Turkish cleric, Fethullah Gulen, who lives in Pennsylvania and who is accused by Turkey's strongman president Recep Tayyip Erdogan, of trying to depose him. Erdogan's government wanted him extradited from the U.S. and paid Flynn's firm through Alptekin for lobbying, including an op-ed in The Hill calling for Gulen to be ejected. Flynn and Kian both lied that the op-ed was not paid for by the Turkish government. The indictment is a sign of how Mueller is taking an interest in more than just Russian involvement in the 2016 election. GUILTY AND AWAITING SENTENCE: ROGER STONE Roger Stone, a former Trump campaign official and longtime informal advisor to Trump, was indited on seven counts including obstruction of justice, witness tampering, and lying to Congress about his communications with WikiLeaks in January 2019. Convicted on all counts November 15, 2019, awaiting sentence Stone was a person of interest to Mueller's investigators long before his January indictment, thanks in part due to his public pronouncements as well as internal emails about his contacts with WikiLeks. In campaign texts and emails, many of which had already been publicly revealed before showing up in Mueller's indictment, Stone communicated with associates about WikiLeaks following reports the organization had obtained a cache of Clinton-related emails. Stone, a former Nixon campaign adviser who has the disgraced former president's face permanently tattooed on his back, has long been portrayed as a central figure in the election interference scandal. 'They got nothing,' he said of the special counsel's investigation. Stone gave 'false and misleading' testimony about his requests for information from WikiLeaks. He then pressured a witness, comedian Randy Credico, to take the Fifth Amendment rather than testify, and pressured him in a series of emails. Following a prolonged dispute over testimony, he called him a 'rat' and threatened to 'take that dog away from you', in reference to Credico's pet, Bianca. Stone warned him: 'Let's get it on. Prepare to die.' CLEARED: GREG CRAIG Greg Craig, President Barack Obama's White House counsel, was indicted for failing to register as a foreign agent. Mueller's investigators uncovered Craig's work on behalf the government of Ukraine while probing Manafort, who did business with Craig. Prosecutors released a grand jury indictment of Craig in April 2019, after Craig's law firm of Skadden, Arps, Slate, Meagher & Flom LLP agreed to pay more than $4.6 million as part of a settlement. The prominent firm also acknowledged it had failed to register, and placed much of the blame on Craig, a senior partner there. Craig's lawyer blasted the decision as an abuse of prosecutorial discretion, and prepared to argue that omission of information during an interview is not tantamount to making false statements. The charges stem from a 2012 report Craig and the firm produced on behalf of the Ukrainian government on opposition figure and former prime minister Yulia Tymoshenko. She was an opponent of Manafort's client , former Ukrainian President Viktor Yanukovych. Craig was cleared on September 9 2019. Advertisement

Statement to the press by U.S. Attorney Robert Khuzami 'What he did was he worked to pay money to silence two women who had information that he believed would be detrimental to the 2016 campaign and to the candidate and the campaign.' 'In addition, Mr. Cohen sought reimbursement for that money by submitting invoices to the candidate's company which were untrue and false. They indicated that the reimbursement was for services rendered for the year 2017, when in fact those invoices were a sham. He provided no legal services for the year 2017 and it was simply a means to obtain reimbursement for the unlawful campaign contribution.' 'First, these are very serious charges and reflect a pattern of lies and dishonesty over an extended period of time. They are significant in their own rights. They are particularly significant when done by a lawyer. A lawyer who through training and tradition understands what it means to be a lawyer, to engage in honest and fair dealing and adherence to the law. Mr. Cohen disregarded that training. Disregarded that tradition and decided that he was above the law, and for that he is going to pay a very, very serious price ...' 'Mr Cohen made guilty pleas for those campaign violations and those are core violations. These remind us that it is illegal for corps to make contributions to candidates and it is illegal to make contributions in excess of the amount that congress set for individuals. That is a strong message today and we will not fear prosecuting additional campaign finance cases ...' 'We are a nation of laws and the essence of this case is about is justice and that is an equal playing field for all persons in the eyes of the law and that is a lesson that Mr. Cohen learned today and it is a very harsh one for him.' Advertisement

WHICH CANDIDATE? Cohen said he negotiated the payments 'In co-ordination with, and at the direction of' a candidate for federal office

Cohen's lawyer Lanny Davis tweeted Tuesday about his client: 'Today he stood up and testified under oath that Donald Trump directed him to commit a crime by making payments to two women for the principal purpose of influencing an election. If those payments were a crime for Michael Cohen, then why wouldn't they be a crime for Donald Trump?'

Justice Department guidelines state that a sitting president shouldn't be charged with a crime while in office, although they could be subject to a court challenge should the government decide to do so.

Numerous legal experts say Trump most likely will avoid getting charged with anything while in office – though he could be charged after he leaves and he could be forced to give testimony in legal matters. The charging documents describe 'Individual-1' as being closely involved with Cohen's efforts. It says Cohen 'coordinated with one or more members of the campaign, including through meetings and phone calls, about the fact, nature, and timing of the payments' to women.

News of Cohen's talks came just as word broke that jurors in the trial of former Trump campaign chair Paul Manafort asked the judge overseeing the case a question about how to proceed if they fail to reach a verdict on a single count.

That in turn led to speculation that special counsel Robert Mueller's team might be on the verge of scoring critical conviction, even if it is on tax and fraud crimes that are not related to the campaign of President Donald Trump.

Mueller's investigators prosecuted Manafort. In the case of Cohen, they handed information they uncovered during their probe to the SDNY for prosecution – although any plea deal could include cooperating with the Russia probe.

The report on Cohen's intentions followed a series of maneuvers by Cohen that raised the prospect he might reach an agreement to cooperate with prosecutors. These included praising the FBI agents who raided his home and apartment, and stating boldly that he would do what is best for his family.

He told ABC's 'Good Morning America' last month that: 'My wife, my daughter and my son have my first loyalty and always will.' He added: 'I put family and country first.'

Cohen left his apartment in New York Tuesday dressed in a dark suit and tie.

His new lawyer, Lanny Davis, told NBC he couldn't comment on an ongoing investigation, having earlier sent signals that Cohen could cooperate. Cohen's hiring of Davis, who has longtime Democratic ties and advised President Bill Clinton, was one such signal.

Michael Cohen, left, former personal lawyer to President Donald Trump, leaves his apartment building past his doorman, in New York, Tuesday, Aug. 21, 2018. NBC reported he was in talks about a possible guilty plea

Were Cohen to follow through and plead guilty to any alleged violations, it would come as prosecutors were considering filing charges against him that include include bank and tax fraud, as well as violations of campaign finance law, against Cohen by the end of the month, sources told the New York Times.

Investigators are looking into more than $20 million in loans which were made to taxi companies owned by Cohen and his family. The amounts reportedly involved only upped the pressure on Cohen, who was intimately involved with Trump as he navigated a variety of business deals in recent years.

Financial statements showed that Cohen used his 32 taxi medallions, then worth around $1 million each, as collateral for the loans from Sterling National Bank. Melrose Credit Union also supplied some of the loans made to 16 separate companies controlled by the Cohens. Cohen and his wife also personally guaranteed the loans, according to public findings.

Investigators are now looking to determine whether Cohen misrepresented the true value of his assets to obtain the loans.

They are also looking at when the lawyer violated campaign finance laws by arranging hush money deals to secure the silence of women who claimed to have had affairs with Trump.

The FBI raided Cohen's home and office earlier this year as part of their investigation into his alleged tax fraud.

President Trump's (left) former personal lawyer Michael Cohen (right) is being investigated for a $20 million bank fraud, according to a new report

Investigators are looking at whether Cohen's income from his taxi-medallion business was underreported in federal tax returns, The Wall Street Journal reported.

That income reportedly included hundreds of thousands of dollars in cash and other payments over the last five years.

Donald Trump has criticized the probe into his former attorney, calling the raids an 'attack on our country in a true sense.'

Cohen caught the attention of the Manhattan US Attorney's Office during Justice Department Special Counsel Robert Mueller's probe into Russian meddling in the 2016 presidential race.

Prosecutors are looking into whether Cohen inflated the value of any of his assets as collateral for bank loans, the Journal reported citing sources familiar with the investigation.

If convicted of tax- and bank-fraud, Cohen, who once said he'd take a bullet for President Donald Trump, could find himself subject to heavy jail time.

That threat could put pressure on Cohen, once known as Trump's 'fixer,' to cooperate with prosecutors if he's charged with these crimes.

Cohen was Trump's personal attorney for years and has deep ties to the Trump Organization.

He is reportedly prepared to tell Mueller that the president knew about the infamous June 2016 Trump Tower meeting ahead of time and approved of it.

That meeting was attended by Donald Trump Jr., Jared Kushner, then-Trump campaign manager Paul Manafort and a lawyer with ties to the Kremlin who claimed to have dirt on Trump's presidential rival Hillary Clinton.

Trump has denied he knew about the meeting ahead of time.

But that gathering at Trump Tower has become a central focus of Mueller's look into what role Russian played in the 2016 presidential election.

Meanwhile federal prosecutors are taking a deep dive into Cohen's business dealings after Mueller's team handed over documents discovered in an April 9th FBI raid.

They are looking closely at Cohen's relationship with Sterling National Bank, which provided financing for his taxi-medallion business. Medallions are the permits taxi drivers need to operate in the city.

Federal prosecutors subpoenaed Jeffrey Getzel, Cohen's former accountant who was responsible for preparing many of Cohen's financial statements.

Cohen's lawyer, Lanny Davis, declined to comment to the newspaper 'out of respect for the ongoing investigation.'

As of April 2018, Cohen owned 22 medallions in Chicago, and either he or his wife, Laura, controlled 32 medallions in New York City.

Taxi medallions were considered a solid investment that are bought and sold on a secondary market. Some in New York sold for an average $1.25 million per medallion in 2013 and 2014.

But their value has fallen sharply in recent years due to competition from ride-sharing services such as Uber and Lyft. Some estimate the value of each medallion has dropped to $200,000 to $225,000.

As prosecutors look at whether Cohen under reported his income to avoid federal taxes they're also examining whether he overstated it in loan applications.

Cohen has previously denied any wrongdoing.

He worked on projects for Trump ranging from Trump Tower Moscow that never got off the ground to a non-disclosure agreement with porn star Stormy Daniels, who claims she had an affair with Trump, and on a deal involving former Playboy model Karen McDougal, who also claimed an affair.

Trump has denied both women's allegations of a sexual affair.

But Cohen also had his own business dealings including real estate, personal loans and investments in taxi medallions.

Evgeny A. Freidman, a Russian immigrant known as 'the Taxi King' and who partnered with Cohen in the taxi medallion business, avoided jail time and got five years probation when he pleaded guilty to tax evasion in May.

As a condition, he is cooperating with prosecutors, who may find him to be a valuable witness as they investigate Cohen on potential tax, campaign finance, and bank fraud charges.

His deal came after an April 9th FBI raid on Cohen's home, office, and hotel where he was staying. They scooped up 3.7 million digital documents.

If Freidman is able to provide useful information, it might strengthen prosecutors hands if they decide to charge Cohen.

Prosecutors are already combing through Cohen's financial records, including big payments he got from major firms as he touted his access to President Trump after the elections.

Also under the microscope is his $130,000 payment to porn star Stormy Daniels, who signed a nondisclosure agreement and claims she had an affair with Trump.

The president revealed last week on his financial disclosure that he 'reimbursed' Cohen for expenses related to a payment of up to $250,000.

Cohen is under investigation for possible bank fraud. He has said he took out a home equity loan in order to make the payment to Daniels, which he executed through a Delaware LLC he set up in October of 2016, weeks before the presidential election.