What am I missing re: Cohen and taxi cab medallions???

[dixiegrrrrl]

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]

1. It's likely that he and his partner are involved in some shady business.

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 Trump’s 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.

Cohen’s 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 wife’s 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. Shusterman’s 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” Friedman’s 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]

6. Thank you! Marvelous info.

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]

7. Yeah, and as he himself has proudly said, he's the "fixer."

And "fixing," unlike actual legal work, isn't covered under attorney-client privilege.

[vlyons]

2. more corruption

He was probably laundering Russian money to buy them

[lunasun]

3. Local news in Chicago said he had many taxi medallions here also. I don't get it

[Golden Raisin]

4. I've lived in Manhattan my entire adult life and am pushing 70.

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]

5. Taxis are primarily a cash business. Cash businesses are used for money laundering.

The raid was conducted partly because there was evidence of money laundering.