Two months before the 2016 election, Donald Trump and his lawyer discussed plans for hush money payments to a former Playboy model alleging an affair. "So sad!. Why was the tape so abruptly terminated (cut) while I was presumably saying positive things?"
It was made two months before the 2016 election, and the two men are heard talking about a payment to former Playboy model Karen McDougal, who claims she had an affair with Mr. Trump in 2006.
In the almost two-hour exchange, which the paper said appeared to have been surreptitiously recorded by Cohen, Trump's ex-lawyer discussed at length the payment he arranged in October 2016, a month before the presidential election, to Daniels, who alleged that she had a one-night stand with Trump in 2006, shortly after his third wife Melania gave birth to their son.
During the campaign, the Trump team denied any knowledge of the deal between Ms McDougal and American Media.
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"Cohen appeared to make some recordings with an iPhone - without telling anyone he was taping them", The Post said.
Trump interrupts Cohen asking, "What financing?" according to the recording.
Trump has denied having sex with either woman. "I need to open up a company for the transfer of all of that info regarding our friend, David", who CNN suggests is a reference to David Pecker, the head of America Media, which publishes "National Enquirer". "The president brings up cash and says don't pay with cash and says 'cheque, ' He wants it memorialised", Mr Giuliani said. "The good news is that your favorite President did nothing wrong!".
In the months since, speculation has grown about what the legal pressure on Cohen might mean for Trump - discussion far removed from Cohen's claim a year ago that he would "take a bullet" for the President.
The recording turned up after federal agents raided Cohen's office, home and hotel room this spring as part of an investigation into possible fraud and violation of election laws. Trump's lawyers say the payments were never made.
His comments stoked speculation that he might co-operate with investigators against Mr Trump, although there has been no confirmation so far that he has done so.
At one point, Cohen says of David, "I'll have to pay him something".