Correct, "at Trump's instruction", therefore showing Trump's intent and using his (Cohen's) own money. Money obtained by taking out a loan against his home.
Trump repaid him with business funds. The money plan was:
- Cohen took out a home loan to get the $130K,
- Cohen then created a shell company,
- Cohen then deposited the money from his home equity into the shell company,
- Cohen then paid the porn start from the shell company account,
- After the election Cohen invoiced the Trump Organization,
- Trump Organization CRO (Allen Weisseilberg) approved the invoice,
- The transaction was invoiced and logged as "legal expenses",
- A Check was cut by the business entity,
- Trump signed the check.
(The above derived from court documents, not talking heads.)
So factually, no Trump didn't pay out of personal funds, he paid with business funds. Hence the charge of falsification of business records at the felony level as (allegedly) attempting to aid and or conceal the illegal campaign contribution by Cohen.
WW