President Donald Trump's former personal lawyer Michael Cohen is under investigation for more than $20 million in bank fraud, The New York Times reported.
Investigators are also said to be weighing charges related to campaign finance violations.
The investigation into Cohen is in its final stage, and charges could come before the end of August, the report said.
Michael Cohen, the former personal attorney for President Donald Trump, is being investigated for more than $20 million in bank fraud, according to a New York Times report Sunday evening.
Federal authorities are focused on loans totaling more than $20 million that were awarded to taxi companies run by Cohen and his family, The Times reported.
The loans in question came from two New York financial institutions, Sterling National Bank and the Melrose Credit Union, the Times said. Investigators are reportedly looking into whether Cohen falsified the value of his assets in order to secure the hefty loans, and whether he reported all his earnings from his taxi medallions to the Internal Revenue Service.
Investigators are also said to be weighing charges related to campaign finance violations for Cohen, who in the run-up to the 2016 election helped pay off women who claimed to have had affairs with Trump .
The inquiry has reached its final stage and Cohen could face charges before the end of August, the report said.
Sunday's report could spell bad news for Trump, whose campaign is being investigated for possible collusion with the Russian government ahead of the 2016 election. A cooperation agreement for Cohen would likely entail that he provide information to Robert Mueller, who is heading the Russia investigation.
The investigation into Cohen, once viewed as one of Trump's most loyal and trusted aides, was dramatically revealed after federal authorities raided Cohen's office , home, and hotel room in April. Trump called the raid a "disgraceful situation" and an "attack on our country in a true sense." SEE ALSO: Former Trump lawyer Michael Cohen now reportedly being investigated for tax fraud
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