Michael Cohen Puts Up Family Apartment Against Bank Debts
- Park Avenue unit is $9 million collateral as taxi loans swoon
- Deal with Sterling National suggests financial pressure
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Michael Cohen, the longtime personal attorney for President Donald Trump who has been drawn into a potentially costly legal battle, has put up his family’s Manhattan apartment as collateral for millions of dollars in loans to his troubled taxi business.
The transaction, outlined in public filings this week, indicates the financial pressure on Cohen is hitting close to home as federal prosecutors delve into a broad range of his business activities, including a hush payment to a porn actress.