Report: Ex-Trump lawyer Michael Cohen investigated for bank and tax fraud of more than $20 million

Jessica Estepa | USA TODAY

Federal investigators are examining whether President Donald Trump's former personal lawyer, Michael Cohen, committed bank and tax fraud worth more than $20 million, according to a media report.

The New York Times, citing anonymous sources, said authorities were focusing on loans obtained for taxi businesses owned by Cohen and his family. The bank loans under examination were provided by Sterling National Bank and Melrose Credit Union, the Times reported. Investigators are looking into whether Cohen obtained the loans by misrepresenting his assets.

Investigators were also considering whether Cohen had violated campaign finance and other laws when he made financial arrangements to pay women to stay silent about alleged affairs with then-candidate Trump in 2016.

Prosecutors may file charges by the end of August, two sources told the Times.

Cohen, who long served as Trump's fixer, has been under investigation for months. In April, federal investigators for the Southern District of New York seized roughly 4 million files from Cohen's home, business office and hotel room.

Last week, a court-appointed special master who reviewed the material said investigators would have access to most of those records.

More: Feds win access to records seized from ex-Trump lawyer Michael Cohen

More: Michael Cohen tapes: Here's what we know about the secret recordings

The investigation has ruptured the once close relationship between Cohen and Trump. In July, Cohen reportedly said the president had been aware of a 2016 meeting at Trump Tower to obtain damaging about Hillary Clinton.

Cohen also released a tape in which he and Trump discuss buying the rights of former Playboy model Karen McDougal's story about having an affair with Trump.

Contributing: Kevin McCoy