Michael Cohen is reportedly ready to flip

President Trump's former attorney, Michael Cohen, is negotiating a possible plea deal with federal prosecutors, sources told NBC News on Tuesday.

The potential guilty plea could protect Cohen from some of the fallout from the investigation into whether he committed tax fraud and bank fraud. The plea deal could be made as early as Tuesday, though sources clarified that no deal has been agreed upon yet. It was previously reported that federal prosecutors were considering filing charges against Cohen by the end of August, as the probe enters its final stages.

If Cohen agrees to a plea in the fraud case, "any cooperation agreement would likely extend to other federal investigations," NBC News noted — like Special Counsel Robert Mueller's investigation into Russian election interference in 2016.

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