NEW YORK–Unsealed search warrants related to President Donald Trump's former fixer and personal attorney Michael Cohen will likely shed additional light on his relationships with taxi medallion loans and at least one credit union that made them.
A federal judge unsealed the warrants that relate to a search executed on Cohen's home, office and hotel room in April of 2019. The documents were unsealed after news organizations requested their release, with the judge agreeing on the condition any reference to an ongoing investigation was redacted.
ABC News reported the search warrant affidavits made clear the matter was referred to federal prosecutors in New York from special counsel Robert Mueller. Cohen owed $22 million on taxi medallion loans from Sterling National Bank and the now-defunct Melrose Credit Union. Melrose CU was liquidated by NCUA and merged into Teachers Credit Union, Hauppauge, N.Y.
It is believed Cohen and others invested in taxi medallions believing they would only appreciate in value. As is well documented, the emergence of ride sharing services sharply eroded those values.
Prosecutors continue to investigate the transactions. Cohen was sentenced to three years in jail and is expected to report for his sentence in early May.