US media: Trump Lawyer Cohen reaches plea deal with prosecutors

Michael Cohen was part of Trump's inner circle for more than a decade. (AFP)
Updated 22 August 2018
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US media: Trump Lawyer Cohen reaches plea deal with prosecutors

  • Michael Cohen, 51, was to appear in federal court in Manhattan on Tuesday afternoon
  • Reports say prosecutors were focused on more than $20 million in loans obtained by Cohen from taxi businesses

NEW YORK: US President Donald Trump's former lawyer Michael Cohen has entered into a plea agreement with federal prosecutors in New York, on campaign finance violations, bank fraud and tax evasion, news media outlets reported.
Cohen, 51, was to appear in federal court in Manhattan on Tuesday afternoon, a court official told Reuters.
News that Cohen had entered into a plea agreement followed a reports he was discussing a deal with prosecutors.
A plea bargain could increase legal risks for the president, as it raises the possibility that Cohen will provide information to US Special Counsel Robert Mueller in his investigation into Russian meddling in the 2016 election and possible coordination with the Trump campaign.
Trump has repeatedly denied any collusion and has called the Mueller investigation a witch hunt. Russia has denied meddling in the election. US intelligence agencies have concluded Moscow interfered.
Cohen was part of Trump's inner circle for more than a decade, working as his personal attorney at the Trump Organization and continuing to advise the president after the election. But their relationship has frayed in recent months.
Lanny Davis, a lawyer for Cohen, declined to comment. Cohen and another of his lawyers, Guy Petrillo, did not immediately respond to requests for comment on the earlier reports.
The probe is being led by the office of US Attorney Geoffrey Berman in Manhattan.
Federal agents had seized documents and files from Cohen in April that stemmed from a referral from Mueller's office.
Cohen once said he would "take a bullet" for Trump, but their relationship has deteriorated since the April FBI raid on Cohen's office, hotel room and home.
The New York Times reported on Sunday that federal prosecutors were focused on more than $20 million in loans obtained by Cohen from taxi businesses owned by him and his family.
The loans are part of the investigation into whether Cohen committed bank and tax fraud, and for possible campaign law violations linked to a $130,000 payment to adult film star Stormy Daniels.
Mueller's investigation, which began in May 2017, has resulted in the indictment of more than 30 people and five guilty pleas.
Trump's former campaign manager, Paul Manafort, is on trial in Alexandria, Virginia, for 18 counts of financial crimes resulting from the Mueller probe. The jury in his case was in its fourth day of deliberations on Tuesday.


CrowdStrike said to hire Goldman Sachs to lead IPO

Updated 2 min 42 sec ago
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CrowdStrike said to hire Goldman Sachs to lead IPO

  • IPO could come in first half of next year
  • CrowdStrike raised $200 million in June

NEW YORK: Cybersecurity software maker CrowdStrike Inc. has hired investment bank Goldman Sachs Group to prepare for an initial public offering that could come in the first half of next year, people familiar with the matter said on Friday.
CrowdStrike is aiming to be valued more than the $3 billion funding round assigned to it earlier this year, the sources added.
CrowdStrike’s IPO plans could still change, the sources cautioned, asking not to be identified because the matter is confidential.
CrowdStrike and Goldman Sachs declined to comment.
Sunnyvale, California-based CrowdStrike raised $200 million in June led by investors General Atlantic, Accel and IVP. Other major backers include CapitalG, an investment arm of Google’s parent company Alphabet Inc. and Warburg Pincus.
CrowdStrike uses artificial intelligence for its Falcon platform to prevent attacks on computers on or off the network.
CrowdStrike is trying to stand out from the hundreds of security startups that have sprouted in recent years, promising next-generation technologies to fight cyber criminals, government spies and hacker activists, who have plagued some of the world’s biggest corporations.
The recent crop of publicly listed cybersecurity companies have had a mixed stock performance. Zscaler Inc. went public in the spring and is trading 125 percent above its IPO price. Tenable Holdings Inc. is worth about 25 percent more than its IPO price. Carbon Black shares have been trading below their IPO price.
CrowdStrike was founded in 2012 by two executives who left security software maker McAfee, including George Kurtz, the startup’s chief executive.