Trump financial disclosure includes Michael Cohen payment

Pic Reuters

Pic Reuters

But two weeks ago, Giuliani - in one of his first interviews as Trump's latest lawyer - claimed that Trump reimbursed Cohen for the payment to Daniels.

Cohen has admitted to having paid $130,000 to the adult film actress, Stephanie Clifford ― also known as Stormy Daniels ― after she went public about an affair that she claims to have had with Trump.

The report says Mr Trump did not have to disclose the payment but is doing so "in the interest of transparency".

The exact figure specified in the financial disclosure is said to be between $100,000 and $250,000.

Under the Ethics in Government Act, Trump is required to disclose all liabilities that exceeded $10,000 at any time during calendar year 2017, even if he repaid them later that year.

That letter was written in response to a complaint from a watchdog organization, Citizens for Responsibility and Ethics in Washington, which said that Trump should have reported the payments to Cohen in last year's disclosures.

In a statement released on Wednesday, Swiss drug manufacturing company Novartis AG (NYSE:NVS) announced that one of its lawyers will be leaving the company due to the companies recent agreement with Michael D. Cohen -US President Donald Trump's lawyer.

But the Office of Government Ethics had a different take, attaching a letter to the report stating that the office "has concluded that the information related to the payment made by Mr. Cohen is required to be reported and that the information provided meets the disclosure requirement for a reportable liability". If DOJ investigates and determines that president Trump knew of his debt to Cohen when he filed last year's report, there will be reason to suspect that his omission of the debt from last year's report was 'knowing and willful, ' which would be a crime. Unlike past presidents of both parties in recent decades, Trump has refused to release his tax returns.

A prior disclosure made previous year covered a 16-month period and showed $37.3 million in revenues for Mar-a-Lago. His Doral golf course and resort in Miami took in $75 million.

The scandal engulfing Cohen has opened a new front in the legal challenges dogging Trump, grabbing headlines from Special Counsel Robert Mueller's ominous investigation into possible collusion between the president's 2016 campaign and Russian Federation.

Overshadows Trump foreign policy moves. In Panama, a nasty feud engulfed the Trump hotel there when the majority owner wanted the Trumps out - leading to the Trump name being pried off with a crowbar.

As part of a voluntary ethics plan, the Trump Organization has not pursued new deals in foreign countries, cutting off an important stream of business that was projected to provide much of its future revenue.

He added that he doesn't agree with the ethics office's contention that the payments had to be disclosed.

Giuliani subsequently told The New York Times the reimbursement was made in monthly installments of $35,000 to Cohen that began some time after the campaign.

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