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Trump's financial disclosure form released by ethics office

17 May 2018

Novartis AG said Wednesday its general counsel is retiring from the company in connection with its $1.2 million payments to a company owned by Michael Cohen, U.S. President Donald Trump's longtime personal lawyer, as the Swiss drugmaker battles to contain the fallout from the arrangement.

How Trump dealt with the Daniels payment in his disclosure has been closely watched, particularly after his attorney Rudy Giuliani gave interviews earlier this month saying the president had repaid Cohen, a payment that had not shown up in Trump's report previous year. The reimbursement was paid in full in 2017, and Cohen had requested the money for expenses incurred in 2016.

Apol wrote in the letter to Rosenstein that the Office of Government Ethics had determined "the payment made by Mr. Cohen is required to be reported as a liability" and that "you may find the disclosure relevant to any inquiry you may be pursuing regarding the President's prior report that was signed on June 4, 2017".

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This is a developing line. A footnote in tiny type on page 45 of the 92 page document says the president "fully reimbursed" Cohen for "expenses" ranging from $100,001 to $250,000.

Cohen admitted that some of the leaked information was correct, such as payments made to him by business clients AT&T and Novartis.

Earlier this month, Trump's attorney Rudy Giuliani said in media interviews that Trump had reimbursed Cohen for the payment via a retainer and that Trump did not know the objective of the payment until recently. But then Mr. Trump said Giuliani was new to the team and would "get his facts straight". But the president's latest disclosure seems to support Giuliani's original statement.

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However, a senior Foreign Ministry official said Trump's visit to Japan "will depend on how the United States arranges its schedule".

Novartis had also paid Cohen into the account, which is the same LLC that Cohen used to pay $130,000 to adult-film star Stormy Daniels, allegedly for her silence about an affair she claims she had with Trump.

A top executive for Novartis is leaving the drug manufacturer over payments to President TrumpDonald John TrumpOregon governor to face state rep in November Ashford, Eastman neck and neck in Nebraska Dem primary Progressive pick Wild wins Dem primary for Pa. House seat MORE's personal lawyer, Michael Cohen.

Mr. Trump's golf clubs also had substantial revenue: his golf club in Jupiter, Florida made $14 million, while Bedminster brought in $15 million. She received no such royalties past year, according to Mr. Trump's financial disclosure then.

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Trump's financial disclosure form released by ethics office