Report: Michael Cohen is being investigated for bank fraud exceeding $20 million

Federal investigators are looking into whether Michael Cohen, President Trump's former lawyer and fixer, committed bank and tax fraud when securing more than $20 million in loans and if he violated campaign finance laws when arranging financial deals with women who said they had affairs with Trump, several people familiar with the matter told The New York Times.

Two people said the probe is in its end stages, and prosecutors are mulling filing charges by the end of August. Investigators are trying to figure out if Cohen misrepresented the value of his assets in order to obtain loans from two banks for his taxi business, and if he failed to report income from that same business to the IRS, the Times reports. Read more about the investigation and what might happen if Cohen decides to take a plea agreement at The New York Times.

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Catherine Garcia, The Week US

Catherine Garcia is night editor for TheWeek.com. Her writing and reporting has appeared in Entertainment Weekly and EW.com, The New York Times, The Book of Jezebel, and other publications. A Southern California native, Catherine is a graduate of the University of Redlands and the Columbia University Graduate School of Journalism.