Cohen has implicated Trump in his campaign finance crimes by saying that Trump told him to orchestrate the hush payments. But prosecutors are going to have to prove more than that to make a criminal case against Trump, according to Ryan.
One, they have to establish that the purpose of the payments was political and not personal (in other words, that they were made to help Trump in the election, not, for example, to keep his wife from finding out about his alleged affairs). And two, they have to prove that Trump directed the payments and was personally liable.
The checks, which Trump signed while he was president, prove that Trump at some point figured out about Cohen’s hush payments and agreed to pay him back. (There’s an alternative some Trump defenders use, saying he just thought he was making retainer payments, but as mentioned, federal prosecutors don’t believe that.) But they’re not proof Trump knew about the original campaign finance violation.
Furthermore, Trump trying to keep the payments under wraps might not matter in a courtroom, at least as part of a campaign finance violation.
“You have a scheme that is essentially to disguise and hide payments that Cohen made during the campaign, and Trump and the Trump trust were involved in that scheme,” former federal prosecutor Renato Mariotti said. “In and of itself, is that a crime? I wouldn’t say necessarily.”