NEW: It has long been conventional wisdom that David Pecker did not pay Stormy Daniels himself because he was angry Trump never reimbursed him. Not so, Pecker testified. 1/
Rather, Pecker backed out of a negotiated license assignment and repayment scheme -- one that had the money flowing from a Cohen-owned LLC to a consultancy owned by a former AMI exec -- after a consultation with the company's general counsel. 2/
The implication? Trump and Cohen had every intention of repaying Pecker until Pecker pumped the brakes for what he implied, without going into attorney-client privileged information, were concerns about the company's legal exposure. FIN.
@lawofruby David Pecker knew it was wrong...
@lawofruby Maybe he should have met with his lawyers before doing any of this?
@lawofruby Yeah wow, so everyone involved definitely knew they were doing the wrong thing.
@lawofruby Summary of the thread: David Pecker testified that he didn't pay Stormy Daniels due to concerns about legal exposure, backing out of a repayment scheme involving Michael Cohen's LLC and a former AMI exec's consultancy, implying Trump and Cohen intended to reimburse him..
@lawofruby The lawyer told him he would be committing a crime if he made the payment. Ominous for Trump since he is the one who made the payment.🍿🍿🍿
@lawofruby I guess it didn't work, if he's testifying w/ immunity... hahahahahahahahahahahahahahaha