Trump Lawyers Payment to Porn Star Flagged by Bank

[applegrove]

https://politicalwire.com/2018/03/05/trump-lawyers-payment-porn-star-flagged-bank/


"SNIP......

The bank used by President Trump’s personal lawyer, Michael Cohen, to wire $130,000 to a former adult-film actress flagged the transaction as suspicious and reported it to the Treasury Department, the Wall Street Journal reports.

“The lawyer, Michael Cohen, wired the money to a lawyer for former actress Stephanie Clifford, known professionally as Stormy Daniels, from an account at First Republic Bank . The money was received on Oct. 27, 2016, 12 days before the presidential election, another person familiar with the matter said. It isn’t clear when First Republic reported it to the government as suspicious.”

Also interesting: “After Mr. Trump’s victory, Mr. Cohen complained to friends that he had yet to be reimbursed for the payment to Ms. Clifford, the people said.”

......SNIP"

[VMA131Marine]

1. Wait.... I thought Cohen said he paid this out of his own pocket

out of the goodness of his own heart. You mean to tell me Trump stiffed his own lawyer? I'm shocked! Shocked, I tell you!

[jberryhill]

2. Any wire over 10k needs to be reported

That's why Dennis Hastert was keeping his transactions under $10,000.

https://en.wikipedia.org/wiki/Currency_transaction_report

When a transaction involving more than $10,000 in cash is processed, most banks have a system that automatically creates a CTR electronically. Tax and other information about the customer is usually pre-filled by the bank software. CTRs since 1996 include an optional checkbox at the top if the bank employee believes the transaction to be suspicious or fraudulent, commonly called a SAR, or Suspicious Activity Referral. A customer is not directly told about the $10,000 threshold unless they initiate the inquiry. A customer may decline to continue the transaction upon being informed about the CTR, but this would require the bank employee to file a SAR.

----

Since the account had just been opened for a newly-formed company for the purpose of making that payment, it was likely just a routine CTR.

[CincyDem]

5. What do you think are the chances that he deposited 130k in cash, triggering and SAR ?

Newly formed company, IIRC same day as the wire went to Stormy's lawyer. No way that wire moved without hard funds in the account. Even if he was writing a check from another account at that institution, I would think 130k would have an overnight hold ? No way could he hammer a 130k check into the account.

WFT - is it really possible that these asshats walked into a bank with 130k in cash to deposit into that LLC. Feels like the only way to get a wire out the same day. Maybe their logic was if Trump loses - nobody will care...and if Trump wins - nobody in a position of authority at Treasure will care.

No data but wouldn't that be rich.

[marylandblue]

6. More likely he did an electronic transfer at the same bank

That might show up immediately, especially if he is a long time customer with large accounts.

[Grammy23]

3. Oh, dont worry, Mr. Cohen.

The check’s in the mail.

[Doodley]

4. Meuller will need to indict him over this, because it is obvious that he has lied to save Trump.

[triron]

7. Cohen is on that list in the recent subpoena to nunberg