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

11 months 4 hours 52 minutes 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
COLUMBIA — Three men were arrested after allegedly stealing $22,000 worth of electronics from a Moberly Walmart Saturday. Several... More >>
1 hour ago Saturday, July 20 2019 Jul 20, 2019 Saturday, July 20, 2019 6:53:00 PM CDT July 20, 2019 in Continuous News
CENTERTOWN - Family, friends and even strangers showed up to celebrate Jasen Smith's life at his Memorial Benefit at Apple... More >>
3 hours ago Saturday, July 20 2019 Jul 20, 2019 Saturday, July 20, 2019 4:35:00 PM CDT July 20, 2019 in News
COLUMBIA - Police confirmed a runaway teen missing since Thursday was found safe Saturday afternoon. Summer Skye Allen was... More >>
4 hours ago Saturday, July 20 2019 Jul 20, 2019 Saturday, July 20, 2019 4:03:00 PM CDT July 20, 2019 in News
COLUMBIA - After being closed since May due to flooding, The Station House at Katfish Katy's is now open. ... More >>
4 hours ago Saturday, July 20 2019 Jul 20, 2019 Saturday, July 20, 2019 3:32:16 PM CDT July 20, 2019 in News
JEFFERSON CITY - The runway at Jefferson City Memorial Airport is back open after a small plane overturned Saturday morning.... More >>
6 hours ago Saturday, July 20 2019 Jul 20, 2019 Saturday, July 20, 2019 1:25:00 PM CDT July 20, 2019 in News
COLUMBIA — A Rolla man was sentenced to life in prison Friday for a 2017 shooting that killed two people.... More >>
1 day ago Friday, July 19 2019 Jul 19, 2019 Friday, July 19, 2019 7:45:00 PM CDT July 19, 2019 in News
HOLTS SUMMIT - The Missouri Highway Patrol helped detonate a suspicious package Friday afternoon at the Holts Summit Police Station.... More >>
1 day ago Friday, July 19 2019 Jul 19, 2019 Friday, July 19, 2019 7:29:00 PM CDT July 19, 2019 in News
COLUMBIA - With excessive heat fixed over Mid-Missouri, senior citizens looked for a place to escape the heat on Friday.... More >>
1 day ago Friday, July 19 2019 Jul 19, 2019 Friday, July 19, 2019 1:45:00 PM CDT July 19, 2019 in News
JEFFERSON CITY - The Show-Me State games kicked off Friday morning at 11 AM with a Torch Run at the... More >>
1 day ago Friday, July 19 2019 Jul 19, 2019 Friday, July 19, 2019 1:44:00 PM CDT July 19, 2019 in News
COLUMBIA - Police arrested a man Thursday night after he allegedly went into a woman's apartment and sexually abused her.... More >>
1 day ago Friday, July 19 2019 Jul 19, 2019 Friday, July 19, 2019 9:06:01 AM CDT July 19, 2019 in News
INDIANAPOLIS (AP) — Prosecutors filed reckless homicide charges on Thursday against a Missouri semi driver for a highway construction zone... More >>
1 day ago Friday, July 19 2019 Jul 19, 2019 Friday, July 19, 2019 8:12:49 AM CDT July 19, 2019 in News
COLUMBIA — A Versailles man previously convicted of child molestation has been charged with possession of and promoting child pornography.... More >>
2 days ago Thursday, July 18 2019 Jul 18, 2019 Thursday, July 18, 2019 7:47:00 PM CDT July 18, 2019 in News
INDIANAPOLIS - The NCAA heard Missouri's appeal on Thursday after the school was handed a handful of penalties back in... More >>
2 days ago Thursday, July 18 2019 Jul 18, 2019 Thursday, July 18, 2019 6:49:00 PM CDT July 18, 2019 in Top Stories
BRANSON - One year ago Friday, 17 were killed when a duck boat sank during a thunderstorm on Table Rock... More >>
2 days ago Thursday, July 18 2019 Jul 18, 2019 Thursday, July 18, 2019 5:01:00 PM CDT July 18, 2019 in News
INDIANAPOLIS (AP) — Prosecutors filed reckless homicide charges on Thursday against a Missouri semi driver for a highway construction zone... More >>
2 days ago Thursday, July 18 2019 Jul 18, 2019 Thursday, July 18, 2019 4:09:00 PM CDT July 18, 2019 in Top Stories
COLUMBIA - The new AI face editing app FaceApp has become an instant hit with iPhone users. However, there are... More >>
2 days ago Thursday, July 18 2019 Jul 18, 2019 Thursday, July 18, 2019 3:45:00 PM CDT July 18, 2019 in News
COLUMBIA - An excessive heat warning is still in effect through Saturday and families should take precautions when playing on... More >>
2 days ago Thursday, July 18 2019 Jul 18, 2019 Thursday, July 18, 2019 1:55:00 PM CDT July 18, 2019 in News
JEFFERSON CITY- Treasurer Scott Fitzpatrick announced Thursday the creation of a new program to help small businesses and farmers after... More >>
2 days ago Thursday, July 18 2019 Jul 18, 2019 Thursday, July 18, 2019 12:37:00 PM CDT July 18, 2019 in News
Columbia, MO
Broken Clouds 88°
9pm 87°
10pm 85°
11pm 84°
12am 83°