Michael Cohen, President Donald Trump’s personal lawyer, and his father-in-law apparently 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 that documents they obtained are showing that Cohen and his father-in-law have loaned millions to Semyon “Sam” 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 cannabis (sic),” according to documents Shtayner submitted to city officials in Henderson, Nevada, where the drug is legal for recreational use.
According to The AP, $6 million of the loans have come directly from Cohen since 2014. But it is not clear if any of the money was used to fund Shtayner’s growing business.
Cohen is also involved in the New York City cab business and owns around 30 medallions for taxis in New York, as well as about 22 cabs in Chicago.
Meanwhile, the taxi medallions are being looked at by FBI investigators after a number of the medallions were discovered during the raid on Cohen’s offices, hotel room, and home earlier this month.
The raid came partly by 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 of the series of Trump associates that had their business dealings be part of the special counsel investigation, which has the authority to investigate “any and all matters” that arise as a result of its probe into election interference.
Cohen denied any allegations and, along with Trump, criticized the FBI raid as a violation of attorney-client privilege.
He is reportedly under investigation for bank fraud and campaign finance violations related to his 2016 payment to Stormy Daniels, an adult film star.