Trump took out a loan. He and the creditor agreed to the value of the collateral. Trump repaid the loan.
Where was the “bookkeeping error?”
They accused him of mislabeling it when payments to Trump’s lawyer were classified as legal expenses. Trump didn’t file any of it; his accountants did and they said he didn’t tell them to do anything.
It was a bunch of bull crap, plain and simple. And the amount involved is peanuts compared to the govt’s payments that they didn’t classify at all, leaving no ability to audit or trace.
No, this is the one where his lawyer Cohen had a trap and kill scam with Stormy Daniels. On his own, Cohen “found” and took care of the Stormy Daniels accusation just before the election.
He took out a loan against his house and paid her the 130,000. So then he goes to Trump and brags that he had this situation and paid for it himself in return for an NDA, and then he put in for reimbursement.
It was supposed to make Cohen look like a happening guy and get him a job in his administration. Trump paid him back in a series of payments to him and they were labeled “Legal expenses”. No crime whatsoever.
It was referred to the FEC as a fraudulent campaign expense. The FEC declined and said there was no campaign finance nexus at all.
So New York State prosecutes it as a fraudulent business record! But first they had to change a law. A fraudulent record is only a problem if it is used to further a crime. So NY state decided that no matter what the FEC said, it was a campaign finance violation. That’s the nutshell of the “34 felonies” case.
Different case.
The bookkeeping entry was done to cover Michael Cohen’s actions covering the story of Stormy Daniels.