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payment-to-porn-star-confirmed-in-trumps-financial-report

Payment to porn star confirmed in Trump’s financial report

Sheetal Sukhija - Thursday 17th May, 2018

WASHINGTON, U.S. - Adding to the day of revelations in Washington, U.S. President Donald Trump’s financial disclosure which was released on Wednesday, has, for the first time, confirmed the payment made to his personal attorney.

According to Trump’s financial report, he paid over $100,000 to Michael Cohen as reimbursement for payments to a “third-party.”

The purpose of the payment wasn’t specified in the disclosure which was released by the Office of Government Ethics. 

Previously, Cohen is revealed to have paid $130,000 to the adult film actress, Stephanie Clifford who goes by the stage name Stormy Daniels, for staying mum on her alleged affair with Trump.

Cohen reportedly made the payments to keep the actress from going public about her affair before the 2016 Presidential election.

The disclosure on Wednesday contained a footnote, which said that Cohen had requested reimbursement of the expenses incurred in 2016 and that Trump had repaid it in full in 2017. 

However, the report did not mention an exact amount of the payment, only saying that it was between $100,001 and $250,000.

Last week, Trump’s new attorney, Rudolph Giuliani revealed in a week of media storm that Cohen was paid $460,000 or $470,000 from Trump, which he said also included money for “incidental expenses” that he had incurred on Trump’s behalf.

However, unlike last year’s filing, which spanned nearly a 16-month period, the 92-page disclosure released on Wednesday, covers only calendar year 2017. 

Further, it provides much less specificity than Trump’s tax returns, which he has refused to make public.

The government ethics office’s acting director sent a letter along with the report to the deputy attorney general, Rod Rosenstein, which reportedly said that the Office of Government Ethics had determined “the payment made by Mr. Cohen is required to be reported as a liability.”

According to analysts, the disclosure provides the first extended look at the performance of Trump’s Washington hotel, which opened in September 2016.

The report showed that the hotel, which has become popular amongst lobbyists and Trump’s Republican aides, is one of the President’s best performing properties.

The disclosure listed revenues of $40.4 million.

Meanwhile, Trump’s Mar-a-Lago resort in Florida, which was dubbed as the Winter White House due to the President’s frequent visits there, saw revenues of $25.1 million.

As per last year’s filing, over a 16 month period, Mar-a-Lago saw revenues of $37.3 million.

However, the report noted that Trump’s other properties have not fared as well.

Trump’s biggest cash flow generator was a golf resort near Miami, the Trump National Doral - which reported revenue of $74.8 million. 

Further, the disclosure showed that despite a major renovation, revenue there had tumbled in the filing a year ago.

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