HOUSE_OVERSIGHT_020437.jpg
1.8 MB
Extraction Summary
9
People
9
Organizations
3
Locations
4
Events
6
Relationships
4
Quotes
Document Information
Type:
Email forwarding a news article
File Size:
1.8 MB
Summary
This document is an email dated April 27, 2018, from Richard Kahn to an email address associated with Jeffrey Epstein (jeevacation@gmail.com). The email forwards a Bloomberg article that analyzes the precarious financial situation of Michael Cohen, Donald Trump's former attorney, suggesting his mounting debts from a failing taxi business could pressure him to cooperate with a federal investigation. The article details Cohen's loans, business relationships, and a payment he arranged for RNC official Elliott Broidy, painting a picture of financial distress.
People (9)
| Name | Role | Context |
|---|---|---|
| Richard Kahn | Sender |
Sent an email to Jeffrey E. [jeevacation@gmail.com] with a Bloomberg article about Michael Cohen.
|
| jeffrey E. | Recipient |
Recipient of the email from Richard Kahn. The email address is jeevacation@gmail.com, widely reported to be Jeffrey E...
|
| Michael Cohen | Attorney and fixer for Donald Trump |
Subject of the forwarded article. His financial difficulties, particularly with his taxi medallion business, are anal...
|
| Donald Trump | President |
Mentioned as Michael Cohen's client.
|
| Laura | Wife of Michael Cohen |
Co-owner of the taxi medallion business with her husband, Michael Cohen.
|
| Shahien Nasiripour | Journalist |
Co-author of the forwarded Bloomberg article.
|
| Caleb Melby | Journalist |
Co-author of the forwarded Bloomberg article.
|
| Elliott Broidy | Republican National Committee official |
Michael Cohen negotiated a $1.6 million payment on his behalf to a former Playboy model.
|
| former Playboy model | Payee |
Received a $1.6 million payment negotiated by Michael Cohen on behalf of Elliott Broidy.
|
Organizations (9)
| Name | Type | Context |
|---|---|---|
| Bloomberg |
Publisher of the article forwarded in the email.
|
|
| Uber |
Mentioned as a cause for the decline in taxi medallion value.
|
|
| Lyft |
Mentioned as a cause for the decline in taxi medallion value.
|
|
| Sterling National Bank |
The lender for the Cohens' taxi medallion business.
|
|
| Squire Patton Boggs |
A law firm that ended its "strategic alliance" with Michael Cohen.
|
|
| Essential Consultants LLC |
A company affiliated with Michael Cohen that received a $250,000 payment.
|
|
| Republican National Committee |
Organization where Elliott Broidy was an official.
|
|
| Wall Street Journal |
Cited as the source for the report on the payment negotiated by Cohen for Broidy.
|
|
| HOUSE_OVERSIGHT |
Document production stamp, likely indicating the document is from the House Oversight Committee files.
|
Timeline (4 events)
April 24, 2018
Sterling National Bank agreed to new loans for the Cohens' companies and for Cohen personally.
Michael Cohen
Sterling National Bank
November 2017
The Cohens' bank stated in a public filing that loans to taxi borrowers were at high risk of default.
Sterling National Bank
after April 2018 raid
The law firm Squire Patton Boggs ended its "strategic alliance" with Cohen.
approx. April 13-27, 2018
Federal agents seized the files of Michael Cohen.
Michael Cohen's offices
Michael Cohen
federal agents
Locations (3)
| Location | Context |
|---|---|
|
Location of real estate owned by Michael Cohen.
|
|
|
Location of the 32 taxi licenses (medallions) owned by the Cohens.
|
|
|
Montebello, New York
|
Location of Sterling National Bank, the Cohens' lender.
|
Relationships (6)
Kahn sent an email to jeffrey E. on 4/27/2018.
The article describes Cohen as "President Donald Trump's personal attorney and fixer".
The article states he and his wife, Laura, co-owned 32 taxi medallions.
The firm ended its "strategic alliance" with Cohen.
The Cohens took out at least 16 loans from the bank for their taxi business.
Cohen negotiated a payment on behalf of Broidy.
Key Quotes (4)
"shockingly it appears he has some money in real estate deals..."Source
HOUSE_OVERSIGHT_020437.jpg
Quote #1
"Will Cohen cooperate with investigators?"Source
HOUSE_OVERSIGHT_020437.jpg
Quote #2
"The law firm Squire Patton Boggs said it ended its "strategic alliance" with Cohen after law enforcement raided his offices..."Source
HOUSE_OVERSIGHT_020437.jpg
Quote #3
"Essential Consultants LLC, a company affiliated with Cohen, was paid $250,000 after he negotiated a $1.6 million payment to a former Playboy model on behalf of Republican National Committee official Elliott Broidy..."Source
HOUSE_OVERSIGHT_020437.jpg
Quote #4
Full Extracted Text
Complete text extracted from the document (3,084 characters)
From: Richard Kahn [
Sent: 4/27/2018 8:25:30 PM
To: jeffrey E. [jeevacation@gmail.com]
Subject: Will Cohen Cooperate? Tenuous Finances May Provide Crucial Clues
Importance: High
Sent: 4/27/2018 8:25:30 PM
To: jeffrey E. [jeevacation@gmail.com]
Subject: Will Cohen Cooperate? Tenuous Finances May Provide Crucial Clues
Importance: High
shockingly it appears he has some money in real estate deals...
Will Cohen Cooperate? Tenuous Finances May Provide Crucial Clues
2018-04-27 08:00:00.2 GMT
2018-04-27 08:00:00.2 GMT
By Shahien Nasiripour and Caleb Melby
(Bloomberg) -- In the two weeks since federal agents seized
the files of Michael Cohen, President Donald Trump's personal
attorney and fixer, a question has hovered: Will Cohen cooperate
with investigators?
His decision could depend in part on whether he can readily
shoulder the enormous legal fees required to fight a federal
probe of this magnitude.
At first blush, Cohen looks like a pretty rich man. He
drives a white Rolls Royce, sports a $50,000 watch and owns a
fair amount of Manhattan real estate.
But just as his loyalty to Trump is coming under scrutiny,
a more tenuous financial picture is emerging. A taxi business he
and his wife built is deeply in debt and losing money daily, his
commercial real estate is throwing off only modest income, and
his legal and consulting work is on hold while he remains under
investigation.
Cohen declined repeated requests to comment.
The owners of 32 New York City taxi licenses -- known as
medallions -- he and his wife, Laura, took out at least 16 loans
based on their once-soaring value, liens show. With the rise of
Uber and Lyft, the price of a medallion has fallen from more
than $1 million to around $163,000 in the past four years.
Income from the taxi business has plummeted, and millions of
dollars of the Cohens' loans went under water. Their bank said
in a November public filing that it had loans out to three taxi
borrowers, and all were at high risk of default.
(Bloomberg) -- In the two weeks since federal agents seized
the files of Michael Cohen, President Donald Trump's personal
attorney and fixer, a question has hovered: Will Cohen cooperate
with investigators?
His decision could depend in part on whether he can readily
shoulder the enormous legal fees required to fight a federal
probe of this magnitude.
At first blush, Cohen looks like a pretty rich man. He
drives a white Rolls Royce, sports a $50,000 watch and owns a
fair amount of Manhattan real estate.
But just as his loyalty to Trump is coming under scrutiny,
a more tenuous financial picture is emerging. A taxi business he
and his wife built is deeply in debt and losing money daily, his
commercial real estate is throwing off only modest income, and
his legal and consulting work is on hold while he remains under
investigation.
Cohen declined repeated requests to comment.
The owners of 32 New York City taxi licenses -- known as
medallions -- he and his wife, Laura, took out at least 16 loans
based on their once-soaring value, liens show. With the rise of
Uber and Lyft, the price of a medallion has fallen from more
than $1 million to around $163,000 in the past four years.
Income from the taxi business has plummeted, and millions of
dollars of the Cohens' loans went under water. Their bank said
in a November public filing that it had loans out to three taxi
borrowers, and all were at high risk of default.
Suspended Medallions
Unpaid taxes and fines have piled up at the Cohen taxi
companies, triggering a suspension of about half of the
medallions, city records show, squeezing cash flow.
Whatever monthly income the cabs once produced almost
certainly fell well short of the debt payments owed to Sterling
National Bank, their Montebello, New York-based lender. Sterling
has foreclosed on operators in similar situations and sued them
but appears to be taking a less-confrontational approach with
the Cohens. On Tuesday, the bank agreed to new loans for their
companies and to Cohen personally, public filings show. Sterling
declined to comment.
companies, triggering a suspension of about half of the
medallions, city records show, squeezing cash flow.
Whatever monthly income the cabs once produced almost
certainly fell well short of the debt payments owed to Sterling
National Bank, their Montebello, New York-based lender. Sterling
has foreclosed on operators in similar situations and sued them
but appears to be taking a less-confrontational approach with
the Cohens. On Tuesday, the bank agreed to new loans for their
companies and to Cohen personally, public filings show. Sterling
declined to comment.
The taxi business isn't the only part of Cohen's empire
that's suffering. The law firm Squire Patton Boggs said it ended
its "strategic alliance" with Cohen after law enforcement raided
his offices, and the rest of his legal work could decline for
the same reason. Cohen, 51, makes others' ugly problems
disappear, a practice that was previously lucrative. Essential
Consultants LLC, a company affiliated with Cohen, was paid
$250,000 after he negotiated a $1.6 million payment to a former
Playboy model on behalf of Republican National Committee
official Elliott Broidy, according to a Wall Street Journal
report.
that's suffering. The law firm Squire Patton Boggs said it ended
its "strategic alliance" with Cohen after law enforcement raided
his offices, and the rest of his legal work could decline for
the same reason. Cohen, 51, makes others' ugly problems
disappear, a practice that was previously lucrative. Essential
Consultants LLC, a company affiliated with Cohen, was paid
$250,000 after he negotiated a $1.6 million payment to a former
Playboy model on behalf of Republican National Committee
official Elliott Broidy, according to a Wall Street Journal
report.
HOUSE_OVERSIGHT_020437
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