NYT: Michael Cohen under investigation for more than $20M in bank fraud

1 year 2 days 19 hours ago Sunday, August 19 2018 Aug 19, 2018 Sunday, August 19, 2018 8:01:59 PM CDT August 19, 2018 in News
By: Caroline Kelly, CNN

    (CNN) -- Federal investigators examining whether President Donald Trump's former lawyer Michael Cohen committed bank and tax fraud are looking at more than $20 million in loans obtained for his and his family's taxi companies, The New York Times reported Sunday night, citing people familiar with the matter.

Authorities are also looking into whether Cohen broke campaign finance or other laws in coordinating hush money for women who alleged that they had affairs with Trump. The inquiry is at the end stage, and prosecutors are considering filing charges by the end of this month, two of the people told the newspaper.

Federal prosecutors in New York who have been investigating Cohen have been mindful of the election cycle when weighing when to charge him, a person familiar with the matter told CNN; as a result, they have considered bringing charges either before September or waiting to do so until after the midterm elections.

Cohen's attorney, Lanny Davis, declined to comment when contacted by CNN.

According to the Times, investigators are trying to determine whether Cohen misrepresented the value of his assets to obtain the loans from two financial institutions that have catered to the taxi industry. They are also scrutinizing whether he failed to properly report his income from taxi medallions to the Internal Revenue Service, the Times reported.

CNN previously reported that Cohen is under investigation for possible bank and tax fraud, that his taxi medallions are a focus of the investigation, and that one of the banks that made the loans was Sterling National Bank. The Times, citing financial records and people with knowledge of the matter, reported that the other financial institution is the Melrose Credit Union.

The-CNN-Wire
™ & © 2018 Cable News Network, Inc., a Time Warner Company. All rights reserved.

More News

Grid
List
JEFFERSON CITY - Three months ago today, Jefferson City was hit by a tornado that ran from 54 Highway and... More >>
2 hours ago Thursday, August 22 2019 Aug 22, 2019 Thursday, August 22, 2019 6:46:00 PM CDT August 22, 2019 in News
COLUMBIA - City spokesperson, Steve Sapp, confirmed neither of the men walked into Walmart wearing body armor on Thursday. One... More >>
3 hours ago Thursday, August 22 2019 Aug 22, 2019 Thursday, August 22, 2019 6:05:00 PM CDT August 22, 2019 in News
COLUMBIA (AP) — Abortion-rights advocates on Thursday sued Missouri's top election official, alleging his actions and state laws denied them... More >>
5 hours ago Thursday, August 22 2019 Aug 22, 2019 Thursday, August 22, 2019 4:02:00 PM CDT August 22, 2019 in News
COLUMBIA - MU is offering grief counseling to any student, faculty or staff member after a student died on Wednesday.... More >>
6 hours ago Thursday, August 22 2019 Aug 22, 2019 Thursday, August 22, 2019 3:31:00 PM CDT August 22, 2019 in News
COLUMBIA - Missouri and several other states across the country are combating a shortage of veterinarians who are qualified to... More >>
7 hours ago Thursday, August 22 2019 Aug 22, 2019 Thursday, August 22, 2019 2:30:00 PM CDT August 22, 2019 in News
COLUMBIA - After 10 years of MU enrollment hitting historic highs to major drops, downtown businesses have learned to adapt.... More >>
8 hours ago Thursday, August 22 2019 Aug 22, 2019 Thursday, August 22, 2019 1:41:00 PM CDT August 22, 2019 in News
JEFFERSON CITY - Prosecutors filed a charge of making a terrorist threat against a man police arrested for his social... More >>
10 hours ago Thursday, August 22 2019 Aug 22, 2019 Thursday, August 22, 2019 11:43:00 AM CDT August 22, 2019 in News
COLUMBIA - A former teacher who worked at the school districts in Fulton and Ashland pleaded guilty in a child... More >>
13 hours ago Thursday, August 22 2019 Aug 22, 2019 Thursday, August 22, 2019 8:14:00 AM CDT August 22, 2019 in News
COLUMBIA - The MU Police Department responded to a call at around 4 p.m. Wednesday about an unresponsive male... More >>
22 hours ago Wednesday, August 21 2019 Aug 21, 2019 Wednesday, August 21, 2019 11:05:00 PM CDT August 21, 2019 in News
MORGAN COUNTY - A motorcycle pursuit has Morgan County deputies and Eldon Police looking for a subject. The pursuit... More >>
23 hours ago Wednesday, August 21 2019 Aug 21, 2019 Wednesday, August 21, 2019 9:57:00 PM CDT August 21, 2019 in News
OSAGE BEACH - An outside education service vendor used by multiple school districts across the state announced it had a... More >>
1 day ago Wednesday, August 21 2019 Aug 21, 2019 Wednesday, August 21, 2019 8:51:00 PM CDT August 21, 2019 in News
Farmers in southern Boone County are working together to repair a levee that broke after floods in June. The levee... More >>
1 day ago Wednesday, August 21 2019 Aug 21, 2019 Wednesday, August 21, 2019 8:23:00 PM CDT August 21, 2019 in News
VIENNA - The Maries County Sheriff's Department is continuing to investigate a house fire that they say someone intentionally started... More >>
1 day ago Wednesday, August 21 2019 Aug 21, 2019 Wednesday, August 21, 2019 6:59:00 PM CDT August 21, 2019 in News
COLUMBIA – Students at Columbia College moved into a brand new residence hall Wednesday, the first housing structure built on... More >>
1 day ago Wednesday, August 21 2019 Aug 21, 2019 Wednesday, August 21, 2019 3:47:00 PM CDT August 21, 2019 in News
PRAIRIE HOME - The USDA released a weekly crop progress report Monday showing an incline in crop yield, but a... More >>
1 day ago Wednesday, August 21 2019 Aug 21, 2019 Wednesday, August 21, 2019 3:45:00 PM CDT August 21, 2019 in News
FULTON -- The Callaway County Humane Society is hoping to see additional funds from the county in its 2020 budget.... More >>
1 day ago Wednesday, August 21 2019 Aug 21, 2019 Wednesday, August 21, 2019 3:42:00 PM CDT August 21, 2019 in News
COLUMBIA - Governor Mike Parson issued a proclamation Wednesday ordering the state legislature to convene in a special session. ... More >>
1 day ago Wednesday, August 21 2019 Aug 21, 2019 Wednesday, August 21, 2019 12:44:00 PM CDT August 21, 2019 in News
FULTON, Mo. - Fulton Police Department said it arrested a man attempting to flee a scene involving firearms. Authorities... More >>
1 day ago Wednesday, August 21 2019 Aug 21, 2019 Wednesday, August 21, 2019 8:05:00 AM CDT August 21, 2019 in News
Columbia, MO
Broken Clouds 74°
10pm 72°
11pm 70°
12am 70°
1am 69°