On Tuesday, the Wall Street Journal reported that former Donald Trump attorney Michael Cohen is now under investigation for tax fraud. The investigation is looking into whether some of the income that Cohen derived from his taxi-medallion business went unreported on federal income tax filings.
According to sources who provided information to the WSJ, the investigation is focused on cash and other forms of payments that Cohen received over the past 5 years, which amount to several hundred thousand dollars.
Additionally, investigators are zeroing in on potential bank fraud that Cohen could have been involved in — particularly whether Cohen was able to obtain loans improperly. One bank in particular, Sterling National Bank, is under the microscope for loans that they provided Cohen for his tax-medallion business.
Like Paul Manafort, who is currently in court facing charges of bank and tax f Cohen could face a long prison sentence if convicted of such. Potential charges could be another means in which Robert Mueller could convince Michael Cohen to cooperate in the Trump/Russia investigation.
Federal crimes are pardonable by the President of the United States, but so far President Trump has given no indication that he is willing to pardon Cohen for any potential charges he may face.