May 4, 2018

WSJ: Michael Cohen investigated for cash buildup during election

Michael Cohen.

Michael Cohen. Photo: Spencer Platt/Getty Images

President Donald Trump's personal lawyer Michael Cohen had access to "as much as $774,000 through two financial transactions" during the 2016 presidential election, the Wall Street Journal reports citing public records.

Why it matters: Per the WSJ, this could feed into the investigation of his business affairs by the FBI and Manhattan federal prosecutors. Cohen doubled the credit line to his Manhattan apartment in February 2016 to $245,000, and gained access to an additional $529,000 in late 2015. The report adds that Cohen reportedly used his "home-equity line of credit to make a $130,000 payment" to Stormy Daniels. [Go deeper: Giuliani walks back that Fox News interview.]

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