One month before the 2016 presidential election, President Trump's attorney Michael Cohen set up a private company in Delaware to pay former adult film star Stormy Daniels $130,000 in exchange for her silence regarding alleged sexual encounters with Trump, The Wall Street Journal reports.
The Journal spoke with people familiar with the matter and looked at state records showing that on Oct. 17, 2016, Cohen established Essential Consultants LLC, then used a bank account linked to the company to send $130,000 to the client-trust account of an attorney representing Daniels, whose real name is Stephanie Clifford. In Delaware, it's easier to set up business entities and there's more privacy, with many companies choosing to hire lawyers or agents to appear on the formation documents. In this case, Cohen is listed as the "authorized person" for the company, the Journal reports.
People with knowledge of the situation said pseudonyms were used to conduct the business, with Clifford referred to as "Peggy Peterson." Records also show that on Sept. 30, 2016, Cohen started an entity in Delaware called Resolution Consultants LLC, but on Oct. 17, just two minutes after creating Essential Consultants, he dissolved Resolution Consultants, for unknown reasons. The Journal first reported last week that Cohen paid Daniels off; he denies doing so.
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