Michael Cohen under pressure to cooperate with prosecutors

Report: Michael Cohen ‘Likely’ to Cooperate With Federal Prosecutors

Michael Cohen and his lawyers at McDermott Will & Emery are reportedly going their separate ways. Cohen is getting ready to hire new lawyers in the federal investigation of his business deals.

A judge had set a deadline of Friday for Cohen's legal team to finish its review of the seized documents.

Without legal representation, it is likely that Mr. Cohen will cooperate with federal prosecutors in NY, a source told ABC News.

"Mr. Ryan's abandonment of his client is a disaster for Mr. Cohen and Mr. Trump", Michael Avenatti, an attorney for the adult film actress Stormy Daniels, said in an email.

'A signature block means nothing, ' Avenatti responded, 'and you have no evidence the firm ever represented Ms. Clifford'.

"There's a lot of speculation about whether Mr. Cohen can pay Mr. Ryan's fees", the Fox Business correspondent continued.

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But the Times report also offered a less immediate timeline for the departure of Cohen's legal team than ABC's initial report did. Meanwhile, multiple reports said Cohen had not yet decided whether to cooperate with prosecutors, and had not met with prosecutors in hopes of cutting a deal.

The special master, retired judge Barbara Jones, reported earlier this month that only 162 of the first 292,000 items she reviewed should be withheld on those grounds.

It turn's out Cohen for the most part handled business/development affairs and primarily operated as the Trump organizations "fixer".

President Donald Trump was furious when it surfaced in April that the Federal Bureau of Investigation had raided properties of Michael Cohen, his longtime lawyer.

The probe has taken a toll on Cohen, who has expressed worries about the financial burden of mounting a legal defense against federal prosecutors with extensive resources, according to a friend who spoke with Cohen in the past few days. Cohen is under investigation for bank fraud and violating campaign-finance law. Add Donald Trump as an interest to stay up to date on the latest Donald Trump news, video, and analysis from ABC News. "If Trump broke the law with respect to collusion with Russian Federation during the campaign or in other respects, it is very possible that Cohen knows about it".

But there's little question that Trump is very anxious about what Cohen might tell prosecutors.

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