Federal investigators are probing whether President Trump's former attorney and self-described fixer, Michael Cohen, committed bank and tax fraud, reports the New York Times, citing people familiar with the matter.
There is no indication that either bank suffered any losses due to the loans, or that Cohen missed payments - ordinarily important factors in a bank fraud case.
Mr. Freidman, known as the "Taxi King," began in around 2012 and 2013 to manage Mr. Cohen's 32 medallions in New York, paying Mr. Cohen a fixed monthly rate and keeping the profit-or suffering any loss-from each medallion, according to a person familiar with their business relationship.
WSJ. Also per the WSJ, the FBI and Manhattan US Attorney's Office have been investigating Cohen for bank fraud, campaign-finance violations and other potential crimes related to his personal business dealings, along with efforts to conceal claims by at least two women who say they had affairs with President Trump.
While Michael Cohen once described himself as Trump's "Fixer," Cohen has persued his own ventures - including real estate, taxi medallions and personal loans.
As of April 2018, Mr. Cohen owned 22 medallions in Chicago, and either he or his wife, Laura, controlled 32 medallions in New York City, some of which were also owned at least partly by family members and others, according to public records.
WSJ. Less than two weeks after Cohen's home, office and hotel was raided by federal prosecutors at the behest of special counsel Robert Mueller, the former Trump attorney pledged his personal residence "Through a $9 million mortgage on his apartment at Trump Park Avenue" - as collateral against millions of dollars in loans from Sterling National Bank which were taken out by he and his wife in 2014 against their taxi business.
https://www.zerohedge.com/news/2018-08-19/michael-cohen-under-federal-investigation-bank-fraud-totaling-well-over-20-million
There is no indication that either bank suffered any losses due to the loans, or that Cohen missed payments - ordinarily important factors in a bank fraud case.
Mr. Freidman, known as the "Taxi King," began in around 2012 and 2013 to manage Mr. Cohen's 32 medallions in New York, paying Mr. Cohen a fixed monthly rate and keeping the profit-or suffering any loss-from each medallion, according to a person familiar with their business relationship.
WSJ. Also per the WSJ, the FBI and Manhattan US Attorney's Office have been investigating Cohen for bank fraud, campaign-finance violations and other potential crimes related to his personal business dealings, along with efforts to conceal claims by at least two women who say they had affairs with President Trump.
While Michael Cohen once described himself as Trump's "Fixer," Cohen has persued his own ventures - including real estate, taxi medallions and personal loans.
As of April 2018, Mr. Cohen owned 22 medallions in Chicago, and either he or his wife, Laura, controlled 32 medallions in New York City, some of which were also owned at least partly by family members and others, according to public records.
WSJ. Less than two weeks after Cohen's home, office and hotel was raided by federal prosecutors at the behest of special counsel Robert Mueller, the former Trump attorney pledged his personal residence "Through a $9 million mortgage on his apartment at Trump Park Avenue" - as collateral against millions of dollars in loans from Sterling National Bank which were taken out by he and his wife in 2014 against their taxi business.
https://www.zerohedge.com/news/2018-08-19/michael-cohen-under-federal-investigation-bank-fraud-totaling-well-over-20-million
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