The Independent View: Michael Cohen Hit With NY New Taxi Taxes

Michael Cohen, already under pressure from a Federal Criminal Investigation into his Business and Financial Dealings, has been hit this Month with more than $185,000 in New York State Warrants including New Unpaid Taxes on his Taxicab Companies.

Added to his previous tab, that brings the total to $282,000 owed to New York State by 17 Taxi Medallion-Holding Companies, know as Limited Liability Companies (LLC), owned by Cohen and his wife including: Mad Dog Cab Corp., Smoochie Cab Corp., Golden Child Cab Corp. and N.Y. Futon Taxi Corp.

Before he started working for Trump, Cohen built his Wealth in the Taxi Business in New York and Chicago. Cohen claims the Taxes are Owed not by him but by Evgeny “Gene” Friedman, known in New York as “The Taxi King.” Friedman, who Operated more than 800 Cabs in the City, including Cohen’s Cabs, goes on Trial in June 2018 on Charges he pocketed more than $5 Million in 50-cent Fare Surcharges that were supposed to benefit New York Mass Transit. Friedman’s Lawyer says he’s Innocent.

As of 2017, Cohen was estimated to Own at least 34 Taxi Medallions through 17 LLCs). Until April 2017, "Taxi King" Evgeny Freidman Managed the Medallions Owned by Cohen; this Arrangement Ended after the New York City's Taxi and Limousine Commission decided not to Renew Freidman's Licenses. Between April and June 2017, the New York State Department of Taxation and Finance filed Seven Tax Warrants against Cohen and his wife for Unpaid Taxi Taxes Due to the MTA.

Cohen, has been President Trump’s Personal Lawyer and has claimed to be a Loyal “Fixer” for his longtime Boss. He claims he drew on a Home-Equity Loan to pay $130,000 to Stormy Daniels, a Porn Actress who said she had Sex with Trump in 2006, to Buy her Silence in the Run-Up to the 2016 Election.

Cohen became a close Confidant to Trump, maintaining an Office near Trump at Trump Tower. Cohen aided Trump in his Struggle with the Condominium Board at the Trump World Tower, which led to Trump successfully obtaining Control of the Board.

Cohen has been involved in Real Estate Ventures in Manhattan, including Buying and Selling Four Apartment Buildings between 2011 and 2014. The Total Purchase Price of the Four buildings was $11 Million and the Total Sales Price was $32 Million. Cohen Sold the Four Properties at above their Assessed Values, in All-Cash Transactions, to LLCs Owned by Persons whose Identities are not Public. After this was reported by McClatchy DC in October 2017, Cohen said that all Four Properties were Purchased by an American-owned "New York real estate family fund" that paid Cash for the Properties in order to obtain a Tax Deferred (Section 1031) Exchange, but did not specifically identify the Buyer. In 2015, Cohen Purchased an Upper East Side Apartment Building for $58 Million.

Cohen bought a Trump World Tower Apartment in 2001. Later, he bought space at Trump Palace and Trump Park Avenue.

According to Celebrity Net Worth, Cohen is worth about $10 million. He currently maintains a $500,000 Home Equity Line of Credit, where the Daniels payment came from.