Michael Cohen pleads guilty, strikes plea deal

Michael Cohen has entered into a plea agreement with federal prosecutors in the Southern District of New York.
5:41 | 08/21/18

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Transcript for Michael Cohen pleads guilty, strikes plea deal
it's great to have youth us Y Tuesday night. Two bombshell headlines involving two men who worked ry closely with thepresident. A guilty plea for O, and a guilty verdict for the other. Paul manafort found guilty on eight counts againsthim. Jurors co consensus he ten. And michaecohen, plead guilty to eight char suendering to the in new rk city. The man who once said he would ke a bullet for the president.con acknoing he working for a candidate for federal fi. What does this mean for president trump? We begin with the Dra involving the fer at the president's S foryears. Hereom llamas, Reporter: He was the president's loyal lieutenant and longti fixer.the personalyeonce said he'd take a bullet for nald trump. But today micohen walked out of federal couer pleadinguilty to illegally pa hush money to silence T women whaimed to have D sexual relationships with the president. Michael, what's your message to the pre? Reporter: Cohen today tng the judge he was wng "In codination and at the region of a candidate for federal office." Mr. Cohen pled guilty to two campaign finance charges. Onfor causing an unlawful corporate contribution, and the se one, for a onal making an cessive peal count contributi, both for the purpose of influencing the 2016 . Reporte just 11 days before the electihen paid off porn star stmy Daniels, who claimed she had a one night stand with T. The president initially said he knew nothingbout it. Did Y know about $130,000 payment to stormy Daniel No, no. What els hy did micel Cohen make it if there was no truth to her legations? You have to ask Michael cohen michis my attorney and you'lle to ask Michael. Reporter: But months later,fferent story from the president's new atey, Rudy uliani. Tt money was not gn money. Sorry, I'm giving you a fact that you don't K it's not campaign money. Campaign fie violation. O they funneled it through the law firm? They funneled through a law and the president repaid it. Oh, in't know THA did. Yup. Reporter: Prosecutors say Cohen was reimed by the trump organization Mr. Cohen S reimbursement for money by submitting invoice the idate's company which were un a false. The unlawful aign contribution. Repr: Cohen ao involved in the payoff to Karen Mcdougal, former "Plboy" playmato claimed she once had a yearlong affaittrump. Justore the Elon, Mcdougal sold theory to the publisher of the "National enquirer." Eyought it and buried it. A practice known as cad kill. Trump denied knowing about that yment, too, but Cohen sely recorded a 2016 cosation where the two men seemed to discuss Ng the rights to Dougal's story the uirer" publisher. N it comesime for the financinhich will be - What financing? We' have to pay -- Cash? No, no, no, no. I got -- no, no, no. Check. Reporteohen worked for president trump more than decade. I will do anything to protect Mr. Trump. I'm obviously very loyal and very dedicato Mr. Trump. Reporter: When his home, office and hotel room were raided by the FBI, the presi was outraged. It's a disgrace. It's frankly a real race. It's an tack on our countrin a true sense. It's an attack on what we Al stand for. Reporter:rump said was confident Cohen would not turn on him Bue re on cohely grew. In J it was clear he was king to cut a D telling our George stephanops, "My wife, my daugh and my so have my first loyalty and always will. I put family and country first."d when Cohen's team released that secrerecorded conversation with trump, it was R. He's been lying for years. There is ny that knows him who has not warned me if he' edgainst a wall, he'll L like crazy bec he's lied all life. Orter: Tonight, cohen pleading guilty to a total of eight feloharges. Inion to the T campaign finance counthere's one count of giving a false atement to a band five counts of tax evasion. T is live with us ton frommanhattan. One outstanding Quon that remains,con cooperate wi rt Mueller? Reporter: Thais a big tion. E agrment does not tell them to cooperate. Use prosecuto could recommend aed sente if is working with em. Sentencing schedule for December. And you said Michael Cohen acknowledged in C he working in coordion and at the direction of a candidate for federaloffice. This significant. Eporter: If there was any doubt in court, the court documents say T candidate was donaru. And he said I partipated for thincipal puose of influening his elecon. David? Tom, thank you. You heard Michael Cohen acknowe he was working for a

This transcript has been automatically generated and may not be 100% accurate.

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