In testimony that cut to the heart of federal investigations encircling the White House, Cohen said he arranged a hush money payment to porn actress at the president's behest and agreed to lie about it to the public and the First Lady.
He said Mr Trump then told the Trump Foundation - a charitable organisation - to repay the fake bidder the $60,000 that had been spent on the painting, despite keeping the piece of art himself.
Cohen says he overheard a call from Roger Stone to Trump in July 2016 in which Stone said he had talked with Julian Assange of WikiLeaks and that there would be a public release of stolen Hillary Clinton emails in the coming days, to which Trump replied: "Wouldn't that be great".
It was a stunning turn for a man who served as Trump's lawyer and all-purpose fixer for more than a decade, a role he once embraced with unapologetic ferocity - pledging to take a bullet on the mogul's behalf as evidence of his loyalty.
Jordan's comments came hours after Cohen publicly disparaged his former boss as a "racist", a "conman", and a "cheat" during his public testimony before Congress.
Cohen said Trump continued efforts to build a skyscaper in Moscow during the height of the election campaign, saying he had previously lied in saying the project had been halted beforehand.
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What do Trump and Kim want from their summit?
Vietnamese women, wearing traditional long dress "ao dai", wave Vietnamese and U.S. flags while a limousine transporting U.S. The two sides haven't even agreed on the meaning of denuclearisation or the ultimate objective of the talks.
Cohen says Trump inflated his personal wealth in statements to Deutsche Bank and an insurance company. But he also said he had no "direct evidence" that Trump or his aides colluded with Russian Federation to get him elected, the primary question of special counsel Robert Mueller's investigation.
Cohen, who worked for Trump from 2006 to 2018, presented a damning character assassination of the president in his testimony to the House Oversight and Reform Committee in Washington DC on Wednesday.
Cohen said Trump secretly directed negotiations for a Moscow real estate deal, while publicly claiming during the campaign that he had no business interests in Russian Federation, which would have posed a conflict.
Asked during his testimony if White House staffers may end up in legal jeopardy due to their allegiance to the president, he replied, "Sadly, if they follow blindly like I have, the answer is yes". "But I have my suspicions", he told members of congress. He never expected to win the general election.
At another point, as reporters were asking about Trump obtaining a medical deferment to avoid military service in Vietnam, Cohen said Trump told him, "You think I'm stupid?"
"Over the past year or so, I have done some real soul-searching", Cohen told the committee yesterday in his opening remarks. I understand all of the things about undermining his veracity. It was evidently of Mr. Trump and a woman, presumably Mrs. Trump? "I pray the country doesn't make the same mistakes that I have made", he said, "or pay the heavy price that my family and I are paying".