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Trading  | May 3, 2018

Tell us again, James Comey, how the Deep State doesn’t exist.

In the latest bombshell about the FBI’s investigation into President Trump’s personal attorney Michael Cohen, NBC News reported Thursday afternoon that the FBI had been wiretapping phone lines used by Cohen during the weeks before the raid on his home, office and hotel room, as well as for an unknown amount of time before.

And what’s more, NBC says prosecutors recorded at least one call between Cohen and somebody at the White House. We can almost guess who that “somebody” is…

Federal investigators have wiretapped the phone lines of Michael Cohen, the longtime personal lawyer for President Donald Trump who is under investigation for a payment he made to an adult film star who alleged she had an affair with Trump, according to two people with knowledge of the legal proceedings involving Cohen.

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It is not clear how long the wiretap has been authorized, but NBC News has learned it was in place in the weeks leading up to the raids on Cohen’s offices, hotel room, and home in early April, according to one person with direct knowledge.

At least one phone call between a phone line associated with Cohen and the White House was intercepted, the person said.

Previously, federal prosecutors in New York have said in court filings that they have conducted covert searches on multiple e-mail accounts maintained by Cohen.

After the raid on Cohen’s office, members of Trump’s legal team reportedly advised him to speak with Cohen. But later, when Rudy Giuliani learned about the call, he advised Trump not to speak with Cohen on the phone again for fear prosecutors might be listening. Giuliani has also reportedly advised Trump that Cohen is likely to flip on him.

It is unclear what incriminating information Cohen could give prosecutors on Trump, if he chose to cooperate. He represented Trump and the Trump Organization in its business dealings for nearly two decades before Trump became president. Special counsel Robert Mueller is interested in any information that federal investigators in New York may pick up that would be relevant to his investigation into possible collusion between the Trump campaign and Russia.

Cohen has previously said publicly that he would invoke his Fifth Amendment rights if subpoenaed to avoid incriminating himself before a grand jury and there is no indication from public filings that Cohen is cooperating in the probe.

Given the volume of Trump legal drama scoops that have dropped this week, we expect to see more reports fleshing out what exactly the FBI learned from eavesdropping on conversations between Cohen and – presumably – his No. 1 client. Then again, none of this should come as a surprise: after all, thanks to the FISA warrant obtained as a result of the Hillary Clinton-funded dossier, both the FBI and the NSA already knew everything that Trump was saying long before he became president.


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