Cohen hit with $282k tax bill in New York
President Trump’s personal lawyer, Michael Cohen, owes hundreds of thousands of dollars in unpaid taxes relating to his ownership of a number of New York City taxi cabs, Bloomberg News reports.
Cohen in April was hit with state warrants for $185,000 in unpaid taxes on his taxi companies, a hefty sum that raises his total tax debt on a number of various taxi firms to $282,000, according to the report.
The top Trump aide built his wealth owning taxi medallions in Chicago and New York before eventually joining the Trump Organization as Trump’s personal “fixer,” the news outlet noted. FBI agents during a raid of Cohen’s offices sought information related to the medallions, possibly signaling a new look at his finances.
Cohen himself reportedly owns around 30 medallions for taxis in New York and owns about 22 cabs in Chicago.
Lawyers for Cohen declined to comment to Bloomberg, which reports that Cohen says the taxes are actually owned by fellow New York cab mogul Evgeny “Gene” Friedman.
Cohen and his family reportedly have connections to a number of taxi cab company owners, including Semyon Shtayner, a longtime Nevada business associate of Cohen’s father-in-law whom Cohen and his wife’s father loaned $26 million in recent years as Shtayner transitions his business to selling legal marijuana.
According to The Washington Post, Cohen is also under investigation for bank and tax fraud.