"I made these mis-statements to be consistent with individual 1's [Trump's] political messaging and out of loyalty to individual 1", Mr Cohen said in court.
The Cohen revelations are potentially significant because they appear to show that Trump was engaged in business dealings with Russian Federation in the midst of a campaign in which Moscow interfered to help elect him. Mr Trump said on Twitter, referring to a U.S. senator who led an anti-communist crusade in the 1950s.
"He's a weak person".
"We had looked at it earlier than that, but it sort of faded away I believe at the end of '14", he replied. He added: "There would be nothing wrong if I did do it". He said he wasn't truthful when he said the effort to develop the project ended in January 2016.
Cohen lied about his dealings because Trump wanted to hide an improper conflict.
US President Donald Trump's former lawyer Michael Cohen admitted on Thursday that he lied to Congress about Trump's business plans in Moscow in order to be consistent with the then-candidate's public disavowals of Russian Federation. Some of those contacts were first reported by The Washington Post.
Last year, Cohen told Congress that talks about a Moscow Trump Tower project ended in January 2016.
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"Cohen discussed the status and progress of the Moscow Project with Individual 1 on more than the three occasions Cohen claimed to the committee, and he briefed family members of Individual 1 within the Company about the project", according to the information.
"Not just about the obvious possibility of a conspiracy to collude and corrupt the American democracy system in the 2016 election, which the Trump Tower meeting was all about, but also knowledge about the computer crime of hacking and whether or not Mr. Trump knew ahead of time about that crime and even cheered it on", said Davis.
Trump called Cohen a "weak person" who is lying to get a lighter sentence.
In a statement, Trump attorney Rudy Giuliani said Trump was asked about the Moscow development in written questions from the Mueller team.
"These false statements regarding the continued pursuit of a Moscow-Trump Tower deal during much of the presidential campaign only underscore the importance of a thorough investigation into any financial entanglement between Trump and Russian Federation", he said. "Mr Cohen will continue to cooperate". Sentencing has been set for December 12.
He derided Cohen for co-operating with prosecutors and turning state's evidence, which is a staple of the criminal justice system.
Trump and Cohen have been estranged since Cohen implicated Trump in court, saying he made the payments "in coordination and at the direction of a candidate for federal office".
"Yes, [Cohen] pled guilty to those eight counts, but he has not had a cooperation agreement with prosecutors in the southern district".