Today on the 8th of May 2018, the MSNBC TV host for the “Beat” Ari Melber broke news that he had banking data given to him by Stormy Daniels’ attorney, Michael Avenatti that involved a minimum of $4.4 million dollars which passed through the shell company, Essential Consultants L.L.C. developed by the republican Donald Trump’s personal attorney Michael Cohen around the time period of October 2016- 2017. The $130,000 hush monies that was paid around October 2016 to the porn star Stormy Daniels to keep her quiet about her dalliance with the president in 2006, was paid out of this account associated with the shell company, Essential Consultants L.L.C.
As per Mr. Avenatti’s 7 page memo which lists all the wire transfers associated with this LLC account from January – August 2017, totaling $4.4 million dollars of transactions which does include a total receipt of $500,000 split over 8 payments from a company associated with a Russian billionaire Viktor Vekselberg (on the US / Russian sanction’s list) and his cousin within months of paying hush money to Stormy Daniels.
The MSNBC and New York Times personnel have verified the banking information originally shared between MSNBC’s Ari Melber and Michael Avenatti.
Here is the rest of the story…
On May 8, 2018, Mike McIntire, Ben Protess and Jim Rutenberg of the New York Times penned the following report, “Firm Tied to Russian Oligarch Made Payments to Michael Cohen”
“A shell company that Michael D. Cohen used to pay hush money to a pornographic film actress received payments totaling more than $1 million from an American company linked to a Russian oligarch and several corporations with business before the Trump administration, according to documents and interviews.”
“Financial records reviewed by The New York Times show that Mr. Cohen, President Trump’s personal lawyer and longtime fixer, used the shell company, Essential Consultants L.L.C., for an array of business activities that went far beyond what was publicly known. Transactions adding up to at least $4.4 million flowed through Essential Consultants starting shortly before Mr. Trump was elected president and continuing to this January, the records show.”
“Among the previously unreported transactions were payments last year of about $500,000 from Columbus Nova, an investment firm in New York whose biggest client is a company controlled by Viktor Vekselberg, the Russian oligarch. A lawyer for Columbus Nova, in a statement on Tuesday, described the money as a consulting fee that had nothing to do with Mr. Vekselberg.”
“Other transactions described in the financial records include hundreds of thousands of dollars Mr. Cohen received from Fortune 500 firms with business before the Trump administration, as well as smaller amounts he paid for luxury expenses like a Mercedes-Benz and private club dues.”
“References to the transactions first appeared in a document posted to Twitter on Tuesday (5/8/18) by Michael Avenatti, the lawyer for Stephanie Clifford, the adult film star who was paid $130,000 by Essential Consultants to keep quiet about an alleged affair with Mr. Trump. The lawyer’s seven-page document, titled “Preliminary Report of Findings,” does not explain the source of his information but describes in detail dates, dollar amounts and parties involved in various dealings by Mr. Cohen and his company. Most of the transactions involved two banks: First Republic Bank and City National Bank.”
“The Times’s review of financial records confirmed much of what was in Mr. Avenatti’s report. In addition, a review of documents and interviews shed additional light on Mr. Cohen’s dealings with the company connected to Mr. Vekselberg, who was stopped and questioned at an airport earlier this year by investigators for Robert S. Mueller III, the special counsel examining Russian interference in the 2016 presidential election.”
“Taken together, the Times’s reporting and Mr. Avenatti’s document offer the most detailed picture to date on Mr. Cohen’s business dealings and financial entanglements in the run-up to the election and its aftermath. Federal prosecutors in Manhattan are investigating Mr. Cohen for possible bank fraud and election-law violations, among other matters, according to people briefed on the investigation. “
“Ms. Clifford, whose stage name is Stormy Daniels, is suing Mr. Cohen and Mr. Trump to break her nondisclosure agreement (NDA) related to the $130,000, and Mr. Avenatti has asserted that Mr. Cohen’s use of Essentials Consultants potentially violated banking laws. The financial records indicate that at least some of the money that passed through the company was from sources and in amounts that were inconsistent with its stated purpose.”
“Mr. Cohen also used the company to collect $250,000 after arranging payments in 2017 and 2018 by a major Republican donor, Elliott Broidy, to a former Playboy model he allegedly impregnated, according to news reports last month.” (See: Theory: Playboy Model Had Affair With Trump, Not Broidy – NYMag)
“Among the other payments to Mr. Cohen’s company described in the financial records were four for $99,980 each between October and January by Novartis Investments S.A.R.L., a subsidiary of Novartis, the multinational pharmaceutical giant based in Switzerland. Novartis — whose chief executive was among 15 business leaders invited to dinner with Mr. Trump at the World Economic Forum in January — spent more than $10 million on lobbying in Washington last year and frequently seeks approvals from federal drug regulators. Novartis said in a statement that its agreement with Essential Consultants had expired.”
“In addition, Korea Aerospace Industries paid Mr. Cohen’s company $150,000 last November, according to the records. The company, an aircraft manufacturer, is partners with Lockheed Martin, the American defense contractor, in competition for a multibillion dollar contract to provide trainer jets for the United States Air Force that is expected to be awarded this year.”
“AT&T made four payments totaling $200,000 between October 2017 and January 2018, according to the documents. AT&T, whose proposed merger with Time Warner is pending before the Justice Department, issued a statement on Tuesday evening confirming that it made payments to Mr. Cohen’s firm.”
“Essential Consulting was one of several firms we engaged in early 2017 to provide insights into understanding the new administration,” the statement said. “They did no legal or lobbying work for us, and the contract ended in December 2017.”
“The payments by Columbus Nova occurred between January and August of last year. Andrew Intrater, the company’s American chief executive and Mr. Vekselberg’s cousin, donated $250,000 to Mr. Trump’s inaugruation, campaign finance records show. He and Mr. Vekselberg attended the event together and met with Mr. Cohen there. Columbus Nova retained him as a consultant soon afterward.”
“The consulting deal was worth $1 million and was supposed to last for a year, according to documents reviewed by The Times. But Columbus Nova decided to end the agreement midway through after it yielded a few investment ideas but no actual deals.”
“A person close to Mr. Intrater said that he had no idea Essential Consultants was used for the separate payment to Ms. Clifford, and that he hired a number of other consultants at the time for similar prices.”
“Columbus Nova is a management company solely owned and controlled by Americans,” said Richard Owens, a lawyer for Mr. Intrater and Columbus Nova. “After the inauguration, the firm hired Michael Cohen as a business consultant regarding potential sources of capital and potential investments in real estate and other ventures. Reports today that Viktor Vekselberg used Columbus Nova as a conduit for payments to Michael Cohen are false. Neither Viktor Vekselberg nor anyone else other than Columbus Nova’s owners were involved in the decision to hire Cohen or provide funding for his engagement.”
In addition to questioning Mr. Vekselberg, Mr. Mueller’s investigators have also interviewed Mr. Intrater, though there is no indication that either man is suspected of wrongdoing.”
“The person close to Mr. Intrater said that he was encouraged to attend the inauguration by an American friend, unrelated to Mr. Cohen.”
“Mr. Vekselberg has invested in Columbus Nova’s private equity funds through his sprawling Russian-based conglomerate, the Renova Group, which operates in the energy sector and elsewhere. Mr. Vekselberg was one of seven Kremlin-linked oligarchs hit with sanctions in April by the Trump administration, which also imposed the penalties on the Renova Group.”
“Renova has had a financial relationship with VTB, one of the largest state-owned banks in Russia, according to documents that were part of the “Panama Papers” leak of files from an offshore law firm. The documents show that VTB and a subsidiary, VTB Capital, lent or invested at least $350 million in Mr. Vekselberg’s companies. The current state of the debt is unclear, though one document suggests it was discharged in 2010.”
“Mr. Cohen created Essential Consultants in Delaware less than two weeks before he completed his deal with Ms. Clifford, Mr. Cohen initially said he paid her out of his own pocket by way of a home equity line of credit”.
“But last week, former Mayor Rudolph W. Giuliani of NY said that Mr. Trump had reiumbursed Mr. Cohen through several $35,000 monthly transactions that amounted to more than $400,000 — covering the payment to Ms. Clifford and, he said, other “incidental expenses.”