The personal lawyer to President Donald Trump, who has acted for years as his “fixer,” owes hundreds of thousands of dollars in taxes, according to a new report.
Cohen has failed to pay taxes related to taxi businesses he owns, Bloomberg reported on Monday. Over $185,000 in unpaid taxes were discovered last month during an FBI raid of Cohen’s offices and home.
Added to what he previously owed in unpaid taxes, his total owed now amounts to more than $282,000.
Cohen made his name in the taxi business, owning taxi medallions (which allow drivers to legally operate taxis) in both Chicago and New York. Medallions were once (and still are) coveted commodities in both cities, owing to the fact that there are a limited supply of them, and that the only way to attain one is often through purchasing another person’s medallion.
Cohen still owns dozens of medallions in both cities, although his lawyers allege that the taxes are actually owed by a different individual, Russian-born Evgeny “Gene” Friedman, who was once known as the Taxi King of New York City.
Trump’s personal lawyer’s business ventures are currently under investigation by the FBI. Cohen also paid out a $130,000 sum to adult film actress Stormy Daniels to allegedly keep her silent about an affair she had with Trump a decade ago.
It’s not clear yet what the end-game is for Cohen with regard to his relationship to Trump. Some have speculated that Cohen could flip on his longtime boss, agreeing to cooperate with the current special counsel investigation led by Robert Mueller.
Certainly enough evidence has been collected by the FBI to have Cohen thinking about his own self-preservation, and it likely has Trump worried about the implications of Cohen agreeing to cooperate.
Thumbnail/Banner Credits: Brendan McDermid/Reuters