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Trump attorney Michael Cohen was offered $10 Million to push for a nuclear project

Trump Donor Agreed to Pay Michael Cohen $10 Million for Nuclear Project Push

Consulting deal with Franklin L. Haney could have been among the most lucrative struck by president’s then-personal attorney, WSJ, By Michael Rothfeld, Rebecca Ballhaus and Joe Palazzolo, 2 Aug 18.

A major donor to President Trump agreed to pay $10 million to the president’s then-personal attorney if he successfully helped obtain funding for a nuclear-power project, including a $5 billion loan from the U.S. government, according to people familiar with the matter.

The donor, Franklin L. Haney, gave the contract to Trump attorney Michael Cohen in early April to assist his efforts to complete a pair of unfinished nuclear reactors in Alabama, known as the Bellefonte Nuclear Power Plant, these people said.

Had he been paid the success fee, Mr. Cohen’s deal with Mr. Haney could have been among the most lucrative of the known consulting agreements he secured after Mr. Trump’s election by emphasizing his personal relationship with the president, according to people familiar with his pitches.

The president has since severed ties with Mr. Cohen, who is under federal investigation in New York in connection with his work for Mr. Trump and private business dealings.

Authorities are investigating whether Mr. Cohen engaged in unregistered lobbying in connection with his consulting work for corporate clients after Mr. Trump went to the White House, according to people familiar with the probe.

Investigators are also examining potential campaign-finance violations and bank fraud……..

Under the contract, Mr. Haney agreed to pay Mr. Cohen a monthly retainer in addition to the $10 million success fee if he could help obtain the funding, including approval of the full amount of the project’s application under a U.S. Department of Energy loan program, the people familiar with the deal said.

Mr. Cohen’s fee would be reduced proportionally if he helped obtain less funding than the contract stipulated, according to a person familiar with the agreement.

A loan application by Mr. Haney’s company is still pending at the Energy Department. Mr. Cohen hasn’t communicated with Energy Secretary Rick Perry about Mr. Haney’s project, according to the Energy Department. Mr. Cohen made several calls to officials at the Energy Department in the spring to inquire about the loan guarantee process, including what could be done to speed it up, according to a person familiar with the matter.

The Wall Street Journal couldn’t determine how much Mr. Haney may have paid Mr. Cohen, if anything, in monthly retainer fees…….

Mr. Cohen’s work for Mr. Haney included participating in an April 5 meeting during which he helped the donor pitch the vice chairman of the Qatar Investment Authority, Sheikh Ahmed bin Jassim bin Mohamed al-Thani, on a possible investment in the nuclear plant, the Journal reported in May, citing people familiar with the matter. …..

Mr. Haney’s company, Nuclear Development, entered into a $111 million contract in November 2016 to purchase the partially completed Bellefonte Nuclear Plant from the Tennessee Valley Authority. Mr. Haney has until November to close on the purchase.

A month after the purchase agreement, in December 2016, Mr. Haney donated $1 million to the Trump inaugural fund through a corporate entity, Federal Election Commission records show.  ….

Nuclear Development and Mr. Haney’s main company, Franklin L. Haney Co., have spent nearly $1.1 million since the end of 2016 lobbying the federal government and Congress on issues related to nuclear power, according to federal lobbying records. …. https://www.wsj.com/articles/top-trump-donor-agreed-to-pay-michael-cohen-10-million-for-nuclear-project-push-sources-say-1533245330

August 4, 2018 - Posted by Christina Macpherson | secrets,lies and civil liberties, USA