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Trump Discloses Payment to Cohen in Financial Report

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President Trump’s financial disclosure, released on Wednesday, revealed for the first time that he paid more than $100,000 to his personal attorney, Michael D. Cohen, as reimbursement for payments to a “third-party.”

The disclosure, released by the Office of Government Ethics, did not specify the purpose of the payment. However, Mr. Cohen has paid $130,000 to an adult film actress, Stephanie Clifford, who claimed she had an affair with Mr. Trump.

A footnote in the disclosure said that Mr. Cohen had requested reimbursement of the expenses incurred in 2016 and Mr. Trump had repaid it in full in 2017.

The 92-page disclosure covers only calendar year 2017, unlike last year’s filing, which spanned nearly a 16-month period. It also provides much less specificity than his tax returns, which he has refused to make public.

Still, the disclosure provides the first extended look at the performance of Mr. Trump’s Washington hotel, which opened in September 2016 and has become a magnet for lobbyists and Republican aides. The hotel is one of his best performing properties, and the disclosure listed revenues of $40.4 million.

And Mr. Trump’s Mar-a-Lago resort in Florida, which has become known as the Winter White House, saw revenues of $25.1 million..

Last year’s filing listed revenues over a 16 month period at Mar-a-Lago of $37.3 million.

Other properties have not fared as well, including Trump National Doral, a golf resort near Miami, which is Mr. Trump’s biggest cash flow generator. It reported revenue of $74.8 million. Revenue there had tumbled in the filing a year ago, even after a major renovation.

Individual performance aside, there are broader signs that the business is retreating somewhat during the first part of Mr. Trump’s presidency.

Since he took office, Mr. Trump’s name has been erased from three of his family company’s prized properties. His company has watched its pipeline of deals ebb and flow. And one new line of business it has pursued is limited to quietly managing other companies’ hotels that are unattached to its once-flashy brand.

The owners of struggling hotels in Toronto and New York have paid the Trumps millions of dollars to remove their name from the properties after the election. In Panama, a nasty feud engulfed the Trump hotel there when the majority owner wanted the Trumps out — leading to the Trump name being pried off with a crowbar.

The president’s company has also been stymied by some of the new ethics restrictions it voluntarily adopted


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https://www.nytimes.com/2018/05/16/us/politics/trump-financial-disclosure.html?partner=rss&emc=rss

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