New York — Among the many challenges facing Donald Trump in his post-presidential life, from reviving a sputtering business empire to fending off impeachment and restoring lustre to his brand, the most grave may be Cyrus Vance.

Vance, the Manhattan district attorney (DA), is pursuing what is the only known criminal investigation into Trump and The Trump Organization. The probe began in 2018 in response to reports that the president’s former lawyer and fixer, Michael Cohen, had arranged hush money payments for two women who claimed to have had extramarital affairs with Trump. Cohen subsequently pleaded guilty to criminal charges stemming from the pay-offs...

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