From USA Today:
Michael Cohen, President Donald Trump’s ex-personal lawyer, reached a plea deal Tuesday on campaign finance violations, bank fraud and tax evasion, according to news reports.
According to ABC, Cohen came to an agreement with federal prosecutors in the Southern District of New York. The deal would come after reports that federal investigators were looking into Cohen committed bank and tax fraud worth more than $20 million, according to a media report. The New York Times, citing anonymous sources, said authorities were focusing on loans obtained for taxi businesses owned by Cohen and his family.
From The New York Times:
If Mr. Cohen were to substantially assist the special counsel’s investigation, Mr. Mueller could recommend a reduction in his sentence.
The guilty plea could represent a pivotal moment in the investigation into the president: a once-loyal aide acknowledging that he made payments to at least one woman who said she had an affair with Mr. Trump, in violation of federal campaign finance law. Mr. Cohen had been the president’s longtime fixer, handling his most sensitive business and personal matters. He once said he would take a bullet for Mr. Trump.