President Trump claimed that Michael Cohen pleaded guilty to two counts of campaign finance violations “that are not a crime.”

He added: “President Obama had a big campaign finance violation and it was easily settled!”

Lanny Davis told NPR that his client, Michael Cohen, will “never accept” a pardon from President Trump.

Said Davis: “I know that Mr. Cohen would never accept a pardon from a man who he considers to be both corrupt and a dangerous person in the Oval Office. He has flatly authorized me to say under no circumstances would he accept a pardon from Mr. Trump, who used the pardon power in a way that no president in American history has ever used a pardon—to relieve people of guilt who committed crimes who are political cronies of his.”

Michael Cohen could be facing more than four years behind bars as a part of his plea deal with government prosecutors, CNN reports.

“One source told us that among the sticking points in the talks, Cohen was pressing for three years in jail while the prosecutors were seeking up to 50 months.”

He is expected to plead guilty to multiple counts of campaign finance violations, tax fraud and bank fraud as part of the deal.

ABC News has learned that Michael Cohen has entered into a plea agreement with federal prosecutors in the Southern District of New York.

“Given Cohen’s proximity to Trump during the past decade, including throughout his meteoric rise from mogul and reality television star to the White House, observers consider him one of most potent legal thorns to confront Trump’s presidency since he took office.”

CNN: “As part of the plea deal under discussion, Cohen is not expected to cooperate with the government, one source said. However, by pleading guilty both Cohen and prosecutors would avoid the spectacle and uncertainty of a trial.”

New York Times: “Even though Mr. Cohen has decided not to cooperate with prosecutors, his decision to plead guilty is a political blow to Mr. Trump.”

Washington Post: “Cohen has surrendered to the FBI in New York as he prepares to plead guilty Tuesday afternoon in an investigation into his activities and business dealings.”

There will be a court proceeding in regards to Cohen today at 4 p.m. ET.

“Michael Cohen, President Trump’s former personal attorney, is discussing a possible guilty plea with federal prosecutors in Manhattan in connection with tax fraud and banking-related matters,” multiple sources familiar with the matter tell NBC News.

“Those sources stress no deal has been reached but do say the potential deal could be reached as early as today.”

“The plea could have significant implications for Trump, who has blasted Cohen ever since his former fixer and his attorney, old Clinton hand Lanny Davis, began signaling this summer that Cohen might cooperate with special counsel Robert Mueller’s investigation.”

Michael Cohen, President Trump’s former personal lawyer, could be charged before the end of the month with bank fraud in his dealings with the taxi industry and with committing other financial crimes, the AP reports.

“Absent a quick resolution, it’s believed that prosecutors would put off a decision on how to go forward with the case until after the election in compliance with an informal Justice Department policy of avoiding bringing prosecutions that could be seen as political and influence voters.”

“Federal authorities investigating whether President Trump’s former personal lawyer and fixer, Michael Cohen, committed bank and tax fraud have zeroed in on well over $20 million in loans obtained by taxi businesses that he and his family own,” the New York Times reports.

“Investigators are also examining whether Mr. Cohen violated campaign finance or other laws by helping to arrange financial deals to secure the silence of women who said they had affairs with Mr. Trump. The inquiry has entered the final stage and prosecutors are considering filing charges by the end of August, two of the people said.”

“Any criminal charges against Mr. Cohen would deal a significant blow to the president.”

“The legal pressures facing Michael Cohen are growing in a wide-ranging investigation of his personal business affairs and his work on behalf of his former client, President Trump,” the Wall Street Journal reports.

“In previously unreported developments, federal prosecutors in New York are examining whether Mr. Cohen committed tax fraud… Federal authorities are assessing whether Mr. Cohen’s income from his taxi-medallion business was underreported in federal tax returns… That income included hundreds of thousands of dollars received in cash and other payments over the last five years.”

“Prosecutors also are looking into whether any bank employees improperly allowed Mr. Cohen to obtain loans for which he didn’t provide adequate documentation.”

Daily Beast: “Two sources who have spoken to Trump about Cohen this week said the president was furious—hurling ‘expletives,’ per one confidant—after CNN revealed Cohen had covertly recorded at least one of their conversations.”

“After audio of the call surfaced, the president conveyed to those close to him that he felt betrayed by Cohen. He was particularly irate at being clandestinely recorded and that audio had found its way to, of all places, CNN, a frequent target of Trump’s tweets. Trump also vented his frustration that there are apparently other tapes out there, and that he doesn’t know exactly what could be on them, or when they’ll drop in the press.”

Said one source close to Trump, who also knows Cohen: “They’re dead to each other now.”

Lanny Davis — a lawyer for Michael Cohen, President Trump’s former lawyer and fixer — tells Mike Allen that, following last night’s release of a secret Trump-Cohen recording, we’ll soon learn more “about what Michael Cohen saw and heard.”

Said Davis: “Michael Cohen has made a turn. This is on the record — Michael and I talked about it. Michael is going to tell the truth to the powers that be, and let the chips fall where they may.”

Jonathan Swan: “We’re now beginning to learn why Trump was so agitated, according to aides, when investigators raided Cohen’s office.”