Trump’s ex-lawyer, Cohen, investigated for bank fraud

NEW YORK — Federal authorities investigating whether President Donald Trump’s former personal lawyer and fixer, Michael Cohen, committed bank and tax fraud have zeroed in on well over $20 million in loans obtained by taxi businesses he and his family own, according to people familiar with the matter.

Investigators also are examining whether Cohen violated campaign finance or other laws by helping to arrange financial deals to secure the silence of women who said they had affairs with Trump. The inquiry has entered the final stage and prosecutors are considering filing charges by the end of August, two of the people said.

Any criminal charges against Cohen would deal a significant blow to the president. Cohen, 52, worked for the president’s company, the Trump Organization, for more than a decade. He was one of Trump’s most loyal and visible aides and called himself the president’s personal lawyer after Trump took office.

The bank loans under scrutiny, the total of which previously has not been reported, came from two financial institutions in the New York region that have catered to the taxi industry, Sterling National Bank and the Melrose Credit Union, according to business records and people with knowledge of the matter, including a banker who reviewed the transactions.

Federal investigators in New York are seeking to determine whether Cohen misrepresented the value of his assets to obtain the loans, which exceed $20 million.

They are also examining how he handled the income from his taxi medallions and whether he failed to report it to the IRS.