'If you’re running for president, and you want to make a hush money payment to a porn star, it’s probably unwise to pay by check.'
Here’s one takeaway from the Michael Cohen hearings that probably everyone can agree on — from President Donald Trump to Michael Cohen, and from Rush Limbaugh to Rachel Maddow.
‘By writing a check for a dubious payment, one is leaving a paper trail.’ —Nancy DePodesta, attorney at Saul, Ewing, Arnstein & Leh “Obviously, by writing a check for a dubious payment, one is leaving a paper trail,” said Chicago attorney Nancy DePodesta at Saul, Ewing, Arnstein & Lehr. “People pay in cash or services, for this exact reason.
President Trump tweeted that Cohen was ‘lying in order to reduce his prison time.’ Last year, Cohen was sentenced to three years in prison and ordered to pay a $50,000 fine after pleading guilty to tax evasion, making false statements to a financial institution, unlawful excessive campaign contributions and lying to Congress as part of special counsel Robert Mueller’s investigation into alleged Russian meddling in the 2016 presidential elections.
But with some simple common sense none of this would have been necessary, financial and legal experts agree. Even worse, it is actually illegal to withdraw large sums under the $10,000 threshold if you are doing so in order to avoid scrutiny. You can purchase unlimited amounts of gold bullion from established dealers without triggering transaction reports, and the bullion can be used in many circumstances as a substitute for U.S. dollars or other currencies.
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