Just read Cohen’s plea agreement. In addition to the well-publicized campaign finance violations, he admitted to underpaying $1.5 million in taxes and lying to a bank to illegally obtain loans. The agreement recommends 4-5 years in prison and up to $1 million in fines (on top of restitution).
The unreported income is mostly in connection to his extensive taxi medallion business, but also includes (among others) $30k in income for brokering the sale of a single handbag (a “Birkin bag”).
According to the plea agreement, Cohen says he did in fact get the $130k from home equity, as previously claimed… only now he admits the loan was illegally obtained.
The Trump Organization agreed to pay Cohen $420k to reimburse him for the $130k settlement with Stormy Daniels, and asked him to produce fraudulent invoices for “retainer” fees of $35k / month for 2017. Trump has made public statements that Cohen was paid a retainer like so. Note that if this money had actually been a retainer, use of it in this way (without properly notifying one’s client) would have been very disbarrable and probably illegal.
Update: It looks like the inconsistent amount I mentioned in point 4 is likely to be a violation of something or other:
Follow RSS/Atom feed or twitter for updates.