Washington (CNN) President Donald Trump's former lawyer, Michael Cohen, is under federal investigation for tax fraud and possibly misrepresenting his finances, people familiar with the investigation told The Wall Street Journal.

The reported investigation adds to the wide-ranging federal investigation Cohen is already facing in relation to his business affairs and work with Trump. According to the Journal, authorities are investigating whether Cohen underreported his income in federal tax returns, in which he reaped hundreds of thousands of dollars over the last five years.

People familiar with the matter told the Journal that authorities are also investigating whether any bank employees were improperly permitted to offer Cohen loans when he didn't provide adequate documentation. Investigators are reportedly examining Cohen's relationship with Sterling National Bank, which financed Cohen's taxi medallion business, and looking closely at whether Cohen lied or misrepresented information on loan applications.

Investigators are also looking into whether Cohen inflated his income "in loan applications and refinancing efforts," people familiar with the matter told the Journal.

Cohen's former accountant, Jeffrey Getzel, has been subpoenaed as part of the investigation, the paper reports.

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