President Trump’s personal lawyer Michael Cohen and Cohen’s father-in-law reportedly loaned at least $26 million in recent years to a taxi mogul who is shifting his business to selling legal marijuana, The Associated Press reports.
The AP obtained documents showing that Cohen and his father-in-law have loaned millions to Semyon Shtayner, a longtime Nevada business associate of Cohen’s father-in-law who is transitioning from the business of owning taxi medallions to a business built around selling marijuana edibles.
“He personally manages over 500 taxi medallions, but he is looking to transition from the medallion business to the cannibas (sic),” according to documents Shtayner submitted to city officials in Henderson, Nev. The drug is legal for recreational use in the state.
At least $6 million of the loans have come directly from Cohen since 2014. It’s not clear if any of the money was used to fund Shtayner’s growing business.
Cohen himself is involved in the New York City cab business, and owns around 30 medallions for taxis in New York. He also owns about 22 cabs in Chicago.
Cohen’s ownership of taxi medallions is being looked at by FBI investigators after a number of the medallions were discovered during a raid of Cohen’s offices and home earlier this month.
The raid came after a referral from the offices of special counsel Robert Mueller, who is investigating possible ties between the Trump campaign and Russia.
Cohen is the latest Trump associate to have business dealings unrelated to the Trump campaign ensnared by the special counsel investigation, which has the authority to investigate “any and all matters” that arise as a result of its probe into Russian election interference.
Cohen has denied any wrongdoing, and along with Trump has blasted the FBI raid as a violation of attorney–client privilege. He has not been charged with anything, but is reportedly under investigation for bank fraud and campaign finance violations related to his 2016 payment to Stormy Daniels, an adult-film star who says she had an affair with Trump in 2006.