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

2 months 4 weeks 1 day 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
BOONE COUNTY - One person was hospitalized Saturday evening after a shooting just east of Columbia, the Boone County Sheriff's... More >>
1 hour ago Saturday, November 17 2018 Nov 17, 2018 Saturday, November 17, 2018 11:01:00 PM CST November 17, 2018 in News
LAKE OZARK - Community members gathered Saturday to raise money for the Police Unity Tour. Every year, police officers... More >>
5 hours ago Saturday, November 17 2018 Nov 17, 2018 Saturday, November 17, 2018 7:12:00 PM CST November 17, 2018 in News
COLUMBIA - A Columbia man is home from the hospital Saturday after spending three weeks in the ICU, recovering from... More >>
5 hours ago Saturday, November 17 2018 Nov 17, 2018 Saturday, November 17, 2018 6:58:00 PM CST November 17, 2018 in News
PHELPS COUNTY - One man was airlifted to the hospital Saturday morning after he suffered "a large caliber gunshot wound... More >>
7 hours ago Saturday, November 17 2018 Nov 17, 2018 Saturday, November 17, 2018 4:46:00 PM CST November 17, 2018 in News
COLUMBIA - Fall Into Art kicked off the weekend with its annual show, and artists shared what their art means... More >>
8 hours ago Saturday, November 17 2018 Nov 17, 2018 Saturday, November 17, 2018 3:50:00 PM CST November 17, 2018 in News
COLUMBIA - One of the largest holiday shopping events in mid-Missouri takes place Saturday and Sunday at the Columbia Exposition... More >>
10 hours ago Saturday, November 17 2018 Nov 17, 2018 Saturday, November 17, 2018 2:20:00 PM CST November 17, 2018 in News
COLUMBIA - From the amateurs to the professional travel teams, dodgeball players of all skill sets took part in the... More >>
10 hours ago Saturday, November 17 2018 Nov 17, 2018 Saturday, November 17, 2018 2:05:00 PM CST November 17, 2018 in News
CALLAWAY COUNTY - A chase that reached speeds of 115 mph and a subsequent foot pursuit led to the arrest... More >>
11 hours ago Saturday, November 17 2018 Nov 17, 2018 Saturday, November 17, 2018 12:50:00 PM CST November 17, 2018 in News
Royal Palm Beach, FL ( WPTV ) -- Firefighters rescued several pets from a house fire in Royal Palm Beach... More >>
12 hours ago Saturday, November 17 2018 Nov 17, 2018 Saturday, November 17, 2018 11:45:00 AM CST November 17, 2018 in News
COLE COUNTY - Another fatal crash occurred in Missouri early Saturday morning. 30 year-old Richard Lowry, of Eugene, was pronounced... More >>
18 hours ago Saturday, November 17 2018 Nov 17, 2018 Saturday, November 17, 2018 5:57:00 AM CST November 17, 2018 in News
SEDALIA - A Sedalia woman was pronounced dead following a crash near Sedalia on Nov. 16. 51-year-old Janna McQueen... More >>
19 hours ago Saturday, November 17 2018 Nov 17, 2018 Saturday, November 17, 2018 5:24:00 AM CST November 17, 2018 in News
SPRINGFIELD (AP) — A jury has found a Wisconsin man guilty of first-degree murder for killing a Missouri mother who... More >>
1 day ago Friday, November 16 2018 Nov 16, 2018 Friday, November 16, 2018 9:47:00 PM CST November 16, 2018 in News
COLUMBIA - Families filled empty shoeboxes with hygiene products, school supplies, clothes, shoes and toys for children in need at... More >>
1 day ago Friday, November 16 2018 Nov 16, 2018 Friday, November 16, 2018 8:04:00 PM CST November 16, 2018 in News
COLUMBIA - The price of a typical Thanksgiving meal in Missouri is a full $5.25 higher than the national average.... More >>
1 day ago Friday, November 16 2018 Nov 16, 2018 Friday, November 16, 2018 7:18:00 PM CST November 16, 2018 in News
JEFFERSON CITY - The nature of Twitter and how government officials use it was at the heart of a hearing... More >>
1 day ago Friday, November 16 2018 Nov 16, 2018 Friday, November 16, 2018 4:11:00 PM CST November 16, 2018 in News
ST. LOUIS - The University of Missouri Board of Curators announced cuts to costs Friday to help with enrollment at... More >>
1 day ago Friday, November 16 2018 Nov 16, 2018 Friday, November 16, 2018 3:24:00 PM CST November 16, 2018 in News
(CNN) -- USA Gymnastics' longtime chief operating officer has resigned, the organization said Friday, becoming the latest in a string... More >>
1 day ago Friday, November 16 2018 Nov 16, 2018 Friday, November 16, 2018 2:56:27 PM CST November 16, 2018 in News
COLUMBIA- A tree in downtown Columbia became the target of vandalism Thursday night when two men were caught on camera... More >>
1 day ago Friday, November 16 2018 Nov 16, 2018 Friday, November 16, 2018 2:49:00 PM CST November 16, 2018 in News
Columbia, MO
Broken Clouds 35°
1am 32°
2am 32°
3am 32°
4am 31°