It is being reported that Trump’s former personal lawyer Michael Cohen could plead guilty to tax fraud and bank fraud within hours, as his potential plea deal is bad news for Trump.

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WNBC’s Jonathan Dienst said on MSNBC’s Andrea Mitchell Reports:

We know these talks are underway between Michael Cohen’s attorneys and federal prosecute ers, and that a deal on a potential guilty plea could be reached as early as this afternoon. And preparations are underway now in federal court for that possible hearing. Of course nothing is done until it’s done. But that is our understanding at this hour, that both sides are very close, and that Michael Cohen is considering accepting a plea deal with federal prosecutors in lower Manhattan.

The U.S. Attorney’s spokesman declined to comment, as did Lanny Davis, with these talks ongoing. The FBI, the IRS investigating the bank fraud and other possible crimes related to his taxi medallion business. This is why this case is being handled here out of New York and is not part of the Mueller investigation. These are his separate business dealings and questions of whether he broke any laws regarding bank fraud and tax fraud. “The New York Times” this weekend reported that it involves bank fraud totaling close to $20 million. That’s being looked at by prosecutors and the FBI. So that is ongoing. But what is newsworthy here today is the timing. We’ve known that there have been talks ongoing for weeks.

The issue now is it all may be coming to a head today in lower Manhattan. We’ll know more within the next hour or two, whether they have formally reached a deal. Or if not, if it falls apart, then it’s our understanding from several sources reporting, Sarah Fitzpatrick and Tom winter, prosecutors would then attempt to move forward with an indictment and just charge him in the days or perhaps the week ahead. But as of now, the goal, we are told, is for the two sides to reach a guilty plea agreement which could happen, which could happen sometime today.

A Michael Cohen Plea Deal Is A Disaster For Trump

Michael Cohen has signaled his willingness to cooperate with prosecutors for weeks. As a part of a plea deal, Cohen will have to cooperate with other investigations into Trump, which one would assume includes the Mueller investigation, and any investigations into the Trump Foundation, Trump’s business activities, and Trump’s payoffs to silence women who he has had affairs with. Michael Cohen is a key intersection point in all of the Trump scandals. If Cohen has been talking, it means only bad things for Trump on multiple fronts.

These charges don’t involve Trump, but others will

Pay special attention to Cohen on two fronts. Cohen is a key player in Trump’s hush money payments to women that he had affairs with. Cohen also may have insight into how funds were used at the Trump Foundation, which is under investigation by the state of New York. Trump may think that he can pardon himself for any federal criminal offenses, but he can’t hide from state-level charges.

The biggest legal jeopardy that Trump faces isn’t from Robert Mueller’s investigation, which could lead to impeachment, but state-level charges. Those close to Trump are fleeing, which means that someday Trump could be an ex-president who is living in the big house instead of the White House.

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Jason Easley

Jason is the managing editor. He is also a White House Press Pool and a Congressional correspondent for PoliticusUSA. Jason has a Bachelor’s Degree in Political Science. His graduate work focused on public policy, with a specialization in social reform movements.

Awards and  Professional Memberships

Member of the Society of Professional Journalists and The American Political Science Association