Michael Cohen, President Trump’s former personal lawyer, may be charged by the end of August for committing bank fraud in excess of $20 million related to the taxi businesses owned by him and his family, according to a report Sunday.
Federal prosecutors in New York are investigating whether Cohen misrepresented how much his assets were worth to obtain loans in December 2014 from Sterling National Bank and the Melrose Credit Union, the New York Times reports. They are also inquiring into whether Cohen mishandled or misreported his income to the Internal Revenue Service.
In addition to possible bank and tax fraud, the prosecutors from the U.S. Attorney’s Office in the Southern District of New York are reportedly probing whether Cohen, Trump’s longtime fixer, violated any campaign laws by negotiating nondisclosure agreements with women claiming to have had extramarital affairs with then-candidate Trump before the 2016 election.
The New York-led investigation, conducted in conjunction with the FBI and IRS, was prompted after they received a referral from special counsel Robert Mueller’s federal Russia probe. The new details regarding the inquiry follow Cohen’s business partner, Evgeny Freidman, agreeing in May to cooperate with prosecutors after pleading guilty to single count of evading $50,00 worth of taxes.
The existence or status of a potential plea deal with Cohen is unknown, but the former Trump Organization employee has indicated that his first loyalty is to his family and the country as opposed to his ex-boss. Cohen’s shifting loyalty has concerned Trump advisers as Mueller’s team presses on with its investigation.
[Poll: Michael Cohen ‘one of the least liked people in the country’]