CNN is reporting that Evgeny "Gene" Friedman, described as a New York City "taxi king," received a better plea deal from prosecutors after the FBI raid on the home and offices of Michael Cohen, an attorney for President Trump Donald John TrumpOmar fires back at Trump over rally remarks: 'This is my country' Pelosi: Trump hurrying to fill SCOTUS seat so he can repeal ObamaCare Trump mocks Biden appearance, mask use ahead of first debate MORE.

Friedman, who runs one of the country's largest taxi businesses, will take a new deal offered by Manhattan prosecutors that does not require he serve time in prison, according to CNN.

Friedman faces criminal charges for tax evasion.

The new deal came after the raid, which was related to special counsel Robert Mueller Robert (Bob) MuellerCNN's Toobin warns McCabe is in 'perilous condition' with emboldened Trump CNN anchor rips Trump over Stone while evoking Clinton-Lynch tarmac meeting The Hill's 12:30 Report: New Hampshire fallout MORE's probe into the 2016 election. It also appeared to be linked to Cohen's payment to an adult-film actress who allegedly had an affair with Trump.

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The businessman had previously rejected a deal from the prosecutors in March that required he spend between two to six years in prison and repay $1 million of the $5 million he owes in back taxes.

Friedman pleaded guilty to criminal tax evasion last week, but will now be spared prison time in exchange for repaying the full $5 million sum.

As part of the deal, Friedman has also agreed to cooperate as a potential witness with federal authorities investigating Russia's interference in the 2016 election, as first reported by The New York Times.

Cohen, a former Trump Organization attorney, is a client of Friedman in his own taxi medallion business, and reportedly owes over $280,000 in unpaid taxes himself.