Federal investigators probing when President Trump’s former lawyer Michael Cohen committed bank or tax fraud to obtain more than $20 million in loans, an amount previously unreported, according to The New York Times.
According to people familiar with the matter who spoke to the Times, authorities are looking at whether Cohen lied about the value of his assets to get the loan for his taxi business. The two financial institutions that Cohen used to obtain the loans are Sterling National Bank and Melrose Credit Union, according to the Times’ review of the business records.
In addition to the possible bank fraud, Cohen is also being investigated for potential tax fraud over how he reported the income from his taxi business, as well as potential violations of campaign finance laws stemming from the payments he made to silence women who claimed to have had affairs with Trump.
The investigation into Cohen’s financial dealings is reportedly nearing completion and prosecutors may file charges at the end of August, according to the Times and CNN.
