A look at Michael Cohen’s finances after he makes a surprise court appearance

Michael Cohen served as the personal lawyer and fixer to President Donald Trump up until May 2018 when he left Trump’s team due to legal conflicts. In the latest charge against Cohen, he has pleaded guilty to lying to Congress regarding the proposed “Trump Tower” project in Moscow. Previously he said discussions with the Russians had finished in January 2016. He now reveals discussions continued to as late as June 2016, well into President Trump’s campaign.

Cohen worked for the Trump dynasty for over ten years, and Trump himself selected Cohen as his personal attorney around the time of his inauguration in January 2017. Previously, Cohen worked with the Trump Foundation as executive vice president and special counsel to Trump. Cohen, who at one time said he would take a bullet for the president, surrendered to the FBI on Aug. 21, The Washington Post reported. Cohen will face three to four years of jail time as part of his plea deal, which required a sign-off by the IRS and includes the former fixer’s admitting guilt in multiple counts of campaign finance violations, tax fraud and bank fraud, according to CNN.

Cohen’s profile spiked in January 2018 when The Wall Street Journal reported that he wired $130,000 to adult film star Stormy Daniels in October 2016.

Click to read about how much President Donald Trump is worth.

RELATED: Take a look at the politicians and lawmakers who have been accused of sexual harassment and assault:

23 PHOTOS
Politicians, lawmakers accused of sexual harassment, assault and misconduct
See Gallery
Politicians, lawmakers accused of sexual harassment, assault and misconduct

Several women have come forward accusing President Donald Trump of unwanted touching or kissing. Trump has called the sexual harassment claims 'fake news.'

(REUTERS/Yuri Gripas)

U.S. Supreme Court nominee judge Brett Kavanaugh was accused by numerous women of sexual assault, including Dr. Christine Blasey Ford who claimed he assaulted her when the two were high school students in Maryland.

(REUTERS/Joshua Roberts)

Bill Clinton faced numerous allegations of sexual assault and misconduct while he was president of the United States, with accusers including Juanita Broaddrick, who accused him of rape, Kathleen Willey who said he groped her and Paula Jones who said he exposed himself to her without consent.

(Photo by Dirck Halstead/The LIFE Images Collection/Getty Images)

(Photo by Sean Zanni/Patrick McMullan via Getty Images)

Roy Moore faced multiple allegations of sexual misconduct with underaged girls.

(Carlo Allegri / Reuters)

Several women have accused former President George H.W. Bush of groping them during photo ops.

(REUTERS/Donna Carson)

Sen. Al Franken resigned after he was accused of kissing and groping a woman without her consent during a United Service Organizations (USO) tour in 2006.

(Andrew Harrer/Bloomberg via Getty Images)

A woman testified that her extra-martial affair with Missouri Governor Eric Greitens was not always consensual. The accuser claimed Greitens took a nude photo of her to use as blackmail and coerced her into having oral sex.

(St. Louis Metropolitan Police Dept./Handout via REUTERS)

New York Attorney General Eric Schneiderman was accused in May 2018 of physically abusing four women who he had been romantically involved with, according to The New Yorker.

(Photo by Drew Angerer/Getty Images)

A former aide of Rep. Bobby Scott, D-Va., says she was fired after she refused his advances.

(Photo By Bill Clark/CQ Roll Call)

Rep. Trent Franks, R-Arizona, resigned after he was accused of asking former female staffers to be surrogate mothers for his child. 

(Photo By Bill Clark/CQ Roll Call)

Rep. Ruben Kihuen, D-Nev., was accused of making unwanted sexual advances to multiple women.

(Photo By Bill Clark/CQ Roll Call)

Rep. Blake Farenthold, R-Texas, was accused of using taxpayer money for a sexual harassment settlement with his former communications director, according to Politico. He announced in December that he wouldn't be seeking reelection. 

(Photo By Bill Clark/CQ Roll Call)

Rep. John Conyers (D-MI) has been accused of unwanted sexual advances by former staffers.

(SAUL LOEB via Getty Images)

California Assemblymember Matt Dababneh was accused of masturbating in front of a woman in 2016, according to the Los Angeles Times.

(Photo by JC Olivera/Getty Images)

In 1992 multiple women came forward against Senator Brock Adams accusing him of sexually harassing, molesting or assaulting them.

(Photo by Gary Payne/Liaison)

The Congressional Office of Compliance reportedly shelled out $100,000 to settle sexual harassment claims against U.S. Rep. Eric Massa, D-New York.

(Photo by Chip Somodevilla/Getty Images)

Congressman Mark Foley, R-Florida, resigned in 2006 amid reports that he sent sexually explicit messages to at least one underage male former page. 

(Photo by Theo Wargo/WireImage)

Rep. Patrick Meehan, R-Pa., called a young former aide his 'soul mate,' but denied sexually harassing her.

(Photo By Tom Williams/CQ Roll Call)

Rep. Dan Johnson, R-Kentucky, was facing sexual assault accusations and reportedly committed suicide.

(Kentucky Legislative Research Commission via REUTERS)

Former U.S. Congressman Anthony Weiner was sentenced in 2017 after pleading guilty to one count of sending obscene messages to a minor, ending an investigation into a "sexting" scandal that played a role in the 2016 US presidential election.

(REUTERS/Lucas Jackson)

Former U.S. Rep. David Wu, D-Oregon, resigned from his position in 2011 after accusations of an 'unwanted sexual encounter' from the 18-year-old daughter of a donor.

(Photo by Alex Wong/Getty Images)

Former Republican presidential hopeful Herman Cain dropped out of the race in December 2011 amid accusations of sexual misconduct.

(REUTERS/Jonathan Ernst)

Former U.S. Speaker of the House Dennis Hastert was sentenced to 15 months in prison in 2016 for attempting to skirt banking regulations in order to conceal hush money payments intended to cover up sex abuse allegations stemming from the time he was a high school wrestling coach at a far west suburban Chicago high school decades ago.

(REUTERS/Frank Polich)

HIDE CAPTION
SHOW CAPTION
of
SEE ALL
BACK TO SLIDE

 

Michael Cohen Net Worth: $20 million

Cohen’s net worth is $20 million, according to Celebrity Net Worth — and Cohen’s salary is $1 million — with a good chunk of his personal wealth coming from his investments in the taxi industry and real estate. In June, Celebrity Net Worth reported Cohen’s net worth as $100 million; the reasons for the dramatic drop in his net worth are unclear. 

Cohen might have also taken out a loan using his taxi companies as collateral, The Washington Post reported in April 2018. The value of his taxi medallions, essentially taxi licenses, has dramatically declined in recent years, from over $1 million to less than $200,000 each.

Don’t Miss: Trump’s Campaign Manager Paul Manafort Guilty of $60M Tax Fraud

His real estate dealings are no more pristine. In 2014, he sold four buildings in Manhattan for $32 million in cash to unknown buyers, The New York Times reported. Cohen alleged the buyers were “a real estate family fund that had been around for centuries” in an interview with McClatchy, the Miami Herald reported.

Although Cohen has his own wealth — enough to buy and flip buildings — the Trump campaign had paid portions of his legal fees, ABC News reported in April 2018. How his guilty plea will affect his net worth remains to be determined.

See: 10 Surprising Investments of Millionaires and Billionaires 

Michael Cohen’s Clients

Trump is Cohen’s most famous and visible client. He also serves at the behest of Fox News pundit Sean Hannity, The New York Times revealed in April 2018. Before he aligned himself with Trump, Cohen ran a personal injury practice, where his clients would stage car accidents for personal gain, Newsweek reported in May 2018. Cohen has been hired to represent corporations, sometimes without having his credentials thoroughly vetted. Switzerland-based healthcare company Novartis hired Cohen for his healthcare expertise, but after one meeting decided he would be unable to provide the expected services, Vox reported.

Check Out: Donald Trump’s Most Valuable Business Ventures

Michael Cohen’s Life and Career

Cohen was born in 1966 and grew up in Nassau County in New York. His parents were Sondra, a nurse, and Dr. Maurice Cohen, a surgeon and Holocaust survivor.

Cohen received his law degree from the Thomas M. Cooley Law School in Lansing, Mich., in 1991. Now known as Western Michigan University Cooley Law School, the institution is, by most accounts, the worst law school in America. It has gotten in hot water due to reports of inflated salary data given to its students, according to Reuters, and for requesting that data regarding its poor academic performance not be released, according to legal news website Above the Law.

Related: Here’s the Insane Amount Lawyers Earn in Every State 

He kicked off his legal career as a private injury lawyer in 1992. Around that time, he began investing and dealing in the taxi business.

Trump and Cohen crossed paths in the early 2000s, when Cohen, as a member of the condo board at one of Trump’s properties, helped Trump resolve a tenant dispute. Trump might value Cohen for his declared loyalty to the president. “If somebody does something Mr. Trump doesn’t like, I do everything in my power to resolve it to Mr. Trump’s benefit,” Cohen was quoted as saying in a 2011 interview with ABC News.

Cohen and his wife Laura have two children.

Click to keep reading about Trump’s surprising spending habits.

More from GO Banking Rates:  
Fast Facts About Tony Robbins and His $500 Million Fortune 
10 Billionaires Like Oprah Winfrey Who Grew Up Poor 
The No. 1 Thing You Should Do to Boost Your Net Worth

Read Full Story