Taxi Regulator To Cohen: Felons Can’t Own Medallions

The New York Post reports:

In yet another blow to Michael Cohen, the city’s Taxi and Limousine Commission has given him less than two weeks to transfer all his yellow cab medallions — under threat of having them revoked. Cohen owns 10 medallions that he purchased in the 1990s, according to TLC officials.

The agency didn’t immediately have information on how much he paid. The medallions were going for more than $1.2 million in 2011 — but prices have collapsed in the Uber era and now hover at less than $200,000. The agency has a rule that prohibits convicted felons from owning medallions, said TLC spokesman Allan Fromberg.