Trump acknowledges he repaid Cohen for expenses during election

Trump acknowledges he repaid Cohen for expenses during election

On Wednesday, the Office of Government Ethics released President Donald Trump's 2017 financial disclosure form, which officially recognizes a previously undisclosed payment to the president's longtime personal lawyer Michael Cohen previous year.

Trump attorney Rudy Giuliani revealed the payment earlier this month. Weeks earlier, Mr. Trump had said he was unaware Cohen paid adult film star Stormy Daniels $130,000 shortly before the election. After Giuliani's comment, the president admitted that Cohen had paid Daniels as part of an agreement and denied the affair allegations but reasoned that such payoffs are "very common among celebrities and people of wealth".

This is a developing story. "The category of the value would be $100,001 - $250,000 and the interest rate would be zero", a footnote in the president's financial disclosure form reads.

Apol wrote that he considers President Trump's payment to Cohen as a payment on a loan, and that it was required to be disclosed in President Trump's June 2017 disclosure.

The disclosure of Trump's payments to his lawyer came the same day a Senate intelligence panel released thousands of pages of testimony from its probe into a meeting between the president's eldest son, Donald Trump Jr, and a Russian lawyer who offered to provide damaging information about Hillary Clinton. He said he had not been reimbursed by Trump's company or Trump's campaign. Trump's lawyers, meanwhile, insist that it didn't even need to be reported now, and that the president was only doing so because of his commitment to "transparency". But then Mr. Trump said Giuliani was new to the team and would "get his facts straight".

The report, though, could cause new problems for Trump, as he did not report the payment in last year's filing.

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This may also get the attention of the Justice Department, since this disclosure was not on last year's financial form.

A previous report covering January 1, 2016, to April 15, 2017, reported cumulative revenues for Trump's four South Florida properties of $191.7 million.

The report also showed Trump earned between $230,000 and $1.1 million in capital gains income on stock in iPhone maker Apple, Caterpillar, Microsoft and Pepsico. The group called for an investigation into whether Trump willfully left the payment off of his 2017 forms.

The president's financial liablities include at least $250 million owed to Deutsche Bank and $100 million to Ladder Capital, a commercial mortgage lender. Picture: APUS President Donald Trump denies any affair took place. Still, Trump can take back control of the trust at any time and he's allowed to withdraw cash from it as he pleases.

That means the debt was improperly omitted from last year's filing.

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