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A report has indicated that the former lawyer of Donald Trump, Michael Cohen is currently under investigation for an alleged tax fraud. The report was published by the Wall Street Journal indicating the federal prosecutors in New York City are now investigating underreported income of Cohen on his tax returns from his taxi medallion business. It is important that Cohen is already under investigation for supposed crimes linked to his personal business dealings with the U.S President Donald Trump. A representative at the attorney office of Cohen, Lanny Davis informed The Independent that Davis was unable to comment to the reports indicating Cohen is under investigation for alleged tax fraud during the ongoing investigation. The Wall Street Journal reported that Cohen was being investigated for alleged underreporting his income.

The Federal prosecutors in New York City have been investigating whether personal business dealings of Cohen with the U.S President Trump involved making payments to cover up alleged extramarital affairs of Trump and whether some of those payments were violated the campaign finance. An actress of adult film, Stormy Daniels (real name is Stephanie Clifford) has sued the U.S President Trump and Cohen both rooted in her alleged affair with Trump during the year 2006. Daniels has said that she was paid 130,000 U.S dollars as a hush-money payment for the alleged affair. The U.S President Trump has denied having any sexual encounter with Daniels. Cohen has also rejected wrongdoing claims from Daniels. The Wall Street Journal also indicated that the prosecutors are also investigating relationships of Cohen with banks and whether he had made misrepresentations or false statements regarding his assets for loan applications.