(Bloomberg) -- Michael Cohen, longtime lawyer to President Donald Trump, not only took money from companies looking for insight into the new administration but pressed one of his clients to take up an investment opportunity to benefit Russian-linked Columbus Nova, another client.
The disclosure, contained in a report produced by an investigation led by Senate Democrats, shows that Cohen promoted the investment in a company backed by Columbus Nova to Novartis AG. Novartis in turn offered a list of ideas on how to lower drug prices and sent it to Cohen, who promised to pass it along to the administration, according to the report.
"The sweetheart deals and backdoor promises documented in this report are a snapshot of Cohen’s multimillion dollar side hustle as influencer-in-chief," said Ron Wyden, Democrat of Oregon and Senate finance committee ranking member.
Click here to read the Senate Democrats’ report
Columbus Nova, an investment firm in the United States, has financial ties to Russian oligarch Viktor Vekselbrg, who has said the firm is managed independently.
Novartis issued a statement after the report was released disputing its claims while adding that the company had “made a mistake in entering into the contract with Michael Cohen.”
Cohen’s business dealings are the subject of an investigation by federal prosecutors in New York, who raided his homes and business in April searching for evidence.
To contact the reporter on this story: Shahien Nasiripour in New York at firstname.lastname@example.org
To contact the editors responsible for this story: Winnie O'Kelley at email@example.com;Heather Smith at firstname.lastname@example.org
©2018 Bloomberg L.P.