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The case against Trump may be even weaker than outlined above. Far from paying 'hush money,' Trump was in the process of legal escalation that could lead to a very public defamation suit. He had paid Cohen a lump sum to prepare for an arbitration for damages against Stormy Daniels.

The money Cohen paid to Daniels came from a personal mortgage he had taken out against the value of his own property, without the knowledge of Trump, or even his own wife. One possible explanation is that Daniels was extorting Cohen.

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