General Discussion
Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsWhat am I missing re: Cohen and taxi cab medallions???
I get that he has a medallion company, is that right? and "invests" in medallions.
I DO know if it's Cohen, there is some scan I am missing.
pnwmom
(109,031 posts)And none of that would be covered by attorney-client privilege.
If Mueller finds any laws broken in his business, that can be used as leverage to get him to testify.
https://www.huffingtonpost.com/entry/michael-cohen-taxis-trump_us_5acd29fde4b06a6aac8cb374
Since President Donald Trumps personal attorney first entered the taxi business in the mid-1990s, his modest fleet has linked him to some of the most notorious owners in the industry. According to one recent estimate that Cohen himself disputes, he owns 34 medallions. Most are operated by Evgeny Freidman ― the taxi king of New York City until last spring, when the city stripped Friedman of his ability to hold a license. Freidman was arrested in June for an unpaid state tax bill totaling $5 million.
Cohens checkered business partnerships stretch back to the very beginning of his taxi ventures. According to documents HuffPost viewed, Cohen inherited part of his taxi empire from his wifes parents. His father-in-law, Fima Shusterman, became embroiled in a major industry scandal, pleading guilty in 1993 to structuring money transactions to get around legal reporting requirements. Shustermans crime was endorsing a $38,000 check signed by Harold Wapnick, a tax preparer with a widespread reputation for helping taxi drivers avoid taxes. Wapnick was later convicted of tax evasion.
In the years following, Cohen joined or assumed ownership of five companies his in-laws had formed or financed to purchase taxicab medallions. And his alliances with questionable business partners continued as all five companies placed some of their medallions under taxi king Friedmans management.
Cohen has also said he ran his business for many years with Simon Garber until selling Garber his stake in their shared business. That business later incurred a $1.6 million fine for a scheme allowing it to steal drivers wages.
Cohen has never been charged with a crime related to his involvement in the rough-and-tumble taxi industry. But in August, the New York Daily News reported that he and his wife, Laura, owe back taxes to the state topping $37,000.
dixiegrrrrl
(60,010 posts)So he grew up with shady parents in a shady business, and now owes the IRS.
And we just know Mueller has his finger in that, even if behind the scenes.
Cohen is the consigliere of Trump's mob. wow. No wonder Trump was so upset.
pnwmom
(109,031 posts)And "fixing," unlike actual legal work, isn't covered under attorney-client privilege.
vlyons
(10,252 posts)He was probably laundering Russian money to buy them
lunasun
(21,646 posts)Response to lunasun (Reply #3)
Leghorn21 This message was self-deleted by its author.
Golden Raisin
(4,621 posts)Taxi Medallions have historically and traditionally been sold for serious money so I could certainly see folks like Cohen or Russians needing to launder money getting involved. This is not penny ante or petty cash stuff. Taxi Medallions used to cost anywhere from $325,000 up to about $700,000. Due to competitive inroads (no pun intended) in NYC by Uber, Taxi medallions are now much "cheaper", as "low" as $186,000-$250,000. But the historic $$$ value was probably very attractive for Cohen & Co. as a vehicle for allegedly either making or laundering money.
tinrobot
(10,932 posts)The raid was conducted partly because there was evidence of money laundering.
Kick in to the DU tip jar?
This week we're running a special pop-up mini fund drive. From Monday through Friday we're going ad-free for all registered members, and we're asking you to kick in to the DU tip jar to support the site and keep us financially healthy.
As a bonus, making a contribution will allow you to leave kudos for another DU member, and at the end of the week we'll recognize the DUers who you think make this community great.