Michael Cohen says violated campaign finance laws
Cohen said he paid $130,000 in violation of campaign finance laws and was directed by a candidate. The money was later repaid by a candidate, his plea says.
The candidate isn't named but it's Trump and it was the Stormy Daniels payment. Prosecutors said the payment was to hide the candidates 'alleged affairs'.
Sentencing guidelines call for 46-63 months for Cohen. The prosecutor says he failed to report $4 million on taxes and lied about debts and banking details on loan applications.
This story and the Manafort verdict appear to be lightly hitting stocks, with S&P 500 futures falling about 4 points. Tune in for the tweet storm.
Sentencing is set for Dec 12 and he's free on $500,000 bail until then.
