UPDATE 1-Federal prosecutors probing Trump inauguration spending -WSJ

Federal prosecutors are investigating whether U.S. President Donald Trump's inaugural committee misspent some of the funds it raised, the Wall Street Journal reported on Thursday, citing people it said were familiar with the matter.

The investigation opened by the Manhattan U.S. attorney's office is examining whether some of the committee's donors gave money in exchange for policy concessions, influencing administration positions or access to the incoming administration, the Journal said.

The probe could present another legal threat for Trump and his White House, which already faces a web of lawsuits and probes into subjects such as the Trump campaign's contacts with Russia, hush-money payments to women made by the president's former lawyer and spending by Trump's foundation.

The investigation into the inaugural committee partly stemmed from materials seized in a probe into the dealings of former Trump lawyer Michael Cohen, the Journal reported. Cohen was sentenced on Wednesday to three years in prison for crimes including orchestrating the hush payments in violation of campaign laws.

A spokesman for the Manhattan U.S. attorney's office declined to comment. Spokespeople for the White House and Trump's campaign did not immediately respond to requests for comment. (Reporting by Karen Freifeld, Jeff Mason and Makini Brice; editing by Eric Beech)

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