On Jan. 3, 2018, DoJ charged Michael Cohen, for scheme to defraud charitable client.
- When recommending investments in African mining sector, to a charitable foundation.
- Violated fiduciary duties to charity, by making misrepresentation, concealing conflicts.
- One mine seller, owed Cohen millions of dollars, on a delinquent $18mn personal loan.
- Cohen had made the loan to one of the sellers to finance the purchase of luxury yacht.
- To conceal scheme, Cohen conspired to cover up facts after SEC) began investigations.