One of the president’s biggest backstabbers has been accused of committing fraud, proving the president was right to fire him.
The Trump traitor joins a list of people who have taken advantage of the president after working to earn his trust.
The president has repeatedly given opportunities to people who wound up becoming opportunists.
Omarosa was Trump’s most ardent supporter when it helped her get on television. After her firing, she did what so many do and cashed the president in, telling lies about him in exchange for publicity.
Now another former ally is in the news after betraying the president. Rudy Giuliani even called him a “scumbag” for secretly recording the president, and accused him of doctoring the audio.
That traitor’s personal dealings are now being revealed, and it shows that he’s not a man to be trusted.
From New York Post:
President Trump’s former personal lawyer is being investigated over more than $20 million in loans to taxi companies owned by him and his family — and could face charges within the next two weeks, according to a new report Sunday.
Michael Cohen is also being probed over deals to buy the silence of women who claimed they had affairs with Trump.
Federal authorities are in the final stage of their investigation and are weighing charges including bank and tax fraud and violations of campaign finance law, people familiar with the matter told the paper.
The $20 million in loans were taken out from Sterling National Bank and the Melrose Credit Union, with Cohen using his 32 taxi medallions as collateral.
Taxi medallions are permits allowing taxi drivers to operate, which were once extremely rare and expensive in New York.
But Uber and Lyft have dramatically lowered the value of these medallions. In June of 2013, when medallion prices peaked, each one was estimated to be worth $1.05 million.
But early this year, two medallions sold for less than $200,000 each.
Investigators believe Cohen misrepresented the value of his assets when taking out the $20 million loan for his family’s taxi companies.
Cohen is also being investigated for possible campaign finance violations, partially related to the $130,000 nondisclosure payment he made to adult film star Stormy Daniels. The president has denied having any knowledge of this transaction.
Experts familiar with the case believe official charges will be filed against Cohen later this month.
Fortunately, it appears Trump will be in the clear. Despite Cohen taping the president without his knowledge, the tapes cannot be used against Trump because they are protected by attorney-client privilege.
In fact, of all the items taken by the FBI during the raid of Cohen’s home, more than 7,000 were determined privileged.
Cohen’s ship may be going down, but he’s not taking the president down with him.
Source: New York Post