Here is an updated account after the hearing.
Cohen’s written statement is here.
The C-SPAN recording of the hearing is here.
Crimes in red.
First Crime: Campaign finance violation (and/ or aiding and abetting campaign finance violation)
Cohen pleaded guilty to 52 USC 30116(a)(1)(A) and (a)(7), making excessive and unreported in-kind campaign violations through his payments to Stormy Daniels and Karen McDougal.
What happened was this: Trump wanted to pay hush money so that his affairs wouldn’t come out right before the election.
He directed Cohen to make the payments through a Home Equity Loan so it couldn’t be traced to him.
Later, after the election, Trump repaid Cohen with personally signed checks Federal law limits how much money individuals can donate to campaigns, and requires that donations be disclosed.
Federal law also treats a loan to a campaign the same as a contribution, so even though Trump repaid Cohen the payment was still an illegal (and unreported) campaign contribution from Cohen.
Aiding and abetting is a theory of liability that means you help with the commission of a crime.
Looks like Trump aided and abetted a campaign finance violation.
Next: Misusing charity funds.
Cohen told an amazing story about how Trump wanted to make sure that his portrait sold for a lot of money, so he had Cohen hire a fake bidder to purchase the portrait for $60K.
Trump repaid the bidder from his charity and kept the portrait.This crime would probably be prosecuted as a tax crime (among others). The Trump family stealing from the Trump Foundation is already the subject of this NY AG lawsuit. More on that here.
Next Michael Cohen tells of subornation of perjury. Whoever procures another to commit any perjury is guilty of subornation of perjury. 18 U.S. Code § 1622.
Cohen explains that how Trump indirectly encouraged him to lie to Congress. Trump also had his personal lawyers edit the false statement Cohen gave Congress.
Remember the flap when Buzzfeed reported that “Trump directed Cohen to lie” and Mueller’s office said it was not accurate? It looks like, in truth, Cohen said something more nuanced instructions were implied rather than a direct order.
10/ The detail that Trump’s personal lawyers looked over (and edited!) the statement raises questions about what they knew.
It’s not like Trump has never hired a shady lawyer [irony]
Next crime: Bank Fraud and/or insurance fraud.
Cohen presented financial statements Trump gave financial institution(s). Cohen also said Trump ‘inflated’ his worth. Depending on the nature of these misrepresentation bank or insurance fraud (or tax fraud) could be involved.
There is more, of course. Michael Cohen paints a vivid picture of a self-dealing, dishonest con man who normalizes lying.
One sad takeaway is that it appears no matter what Trump family crimes are revealed, the Fox-GOP will defend Trump and attack anyone who tries to speak the truth. This must inform a strategy moving forward. Don’t expect a Watergate ending.
