President Donald Trump’s former lawyer, Michael Cohen, reportedly walked back part of his guilty plea during a phone call with comedian Tom Arnold on March 25.
According to the Wall Street Journal, which posted audio of the purported call, Cohen admitted to campaign finance violation (paying porn stars on behalf of Trump), but denied that he evaded taxes and misrepresented his debt-to-income ratio in a home equity line of credit application, also known as a “Heloc.”:
You would think that you would have folks, you know, stepping up and saying, “You know what, this guy’s lost everything”…
I lost my business… my insurance, my bank accounts, all for what? All for what? Because Trump, you know, had an affair with a porn star? That’s really what this is about.
There is no tax evasion. And the Heloc? I have an 18% loan-to-value on my home. How could there be a Heloc issue? How? Right?…It’s a lie.
Cohen inferred that he pleaded guilty to protect his wife.