Cohen entered a Federal court room in Manhattan Tuesday to enter his guilty plea to eight charges of campaign finance violations, bank fraud, and tax evasion.
Yeah, Cohen didn't even wait to be formally charged for anything, instead he surrendered to the FBI as rumors had been swirling the hammer was about to come down hard on him on multiple counts.
Cohen beat prosecutors to the punch by agreeing to a plea deal reported to include jail time and some steep cash fines.
"Mr. Cohen plead guilty to two campaign finance charges, one for causing an unlawful corporate contribution," Deputy U.S. Attorney for Southern District of New York Robert S. Khuzami announced. "And a second one for personally making an excessive personal contribution."
A Federal judge set Cohen's sentencing date for Dec. 12 and set his bail at $500,000.
Cohen has been under the microscope since making a purported hush money payment to stripper Stormy Daniels just prior to the 2016 Presidential Election.
"The one most dangerous for the president is actually the campaign finance issue. That can lead to the president's knowledge or direction of Cohen to do this," former Federal prosecutor Shan Wu suggested.
But don't look for any pardons from the Trump camp.
"The guy is unethical, he's a scum bag. He's a horrible person," President Trump's attorney Rudy Giuliani ranted about Cohen.
Some are saying any fraud case cooperation agreement would certainly extend to other Federal investigations.
So, what does all this mean for Special Counsel Robert Mueller's Russia Investigation concerning the Trump Campaign?
That's the $64,000 question in D.C. Wednesday night!