LEGAL/TRUMP BUSINESS/WOMEN: “President Donald Trump’s lawyer used a private Delaware company to pay a former adult-film star $130,000 in return for her agreeing to not publicly discuss an alleged sexual encounter with Mr. Trump, according to corporate records and people familiar with the matter.
The lawyer, Michael Cohen, established Essential Consultants LLC, on Oct. 17, 2016, just before the 2016 presidential election, corporate documents show. Mr. Cohen, who is based in New York, then used a bank account linked to the entity to send the payment to the client-trust account of a lawyer representing the woman, Stephanie Clifford, one of the people said.
Mr. Cohen’s decision to establish the company in Delaware offered him privacy and simplicity, hallmarks of a state that has attracted more than one million business entities. Unlike some states, Delaware doesn’t require companies to publicly disclose the names of their managers. In October 2016, the month Mr. Cohen created the entity used in the deal with Ms. Clifford, Delaware officials recorded 10,574 new limited liability companies.
Mr. Cohen’s connection to Essential Consultants LLC isn’t readily apparent in online searches of Delaware companies. However, on its formation documents, which were reviewed by The Wall Street Journal, Mr. Cohen listed himself as the ‘authorized person’ for the company, rather than hiring a lawyer or an agent to serve in that role, which some company owners do to further obscure their identities.
To further mask the identities of the people involved in the agreement, the parties used pseudonyms, with Ms. Clifford identified as ‘Peggy Peterson,’ according to a person familiar with the matter. Part of the draft settlement pact was published by Slate.”
-Joe Palazzolo and Michael Rothfeld, “Trump Lawyer Used Private Company, Pseudonyms to Pay Porn Star ‘Stormy Daniels’,” The Wall Street Journal online, Jan. 18, 2018 05:48pm