A longtime business partner of Michael D. Cohen, the personal lawyer of President Donald Trump, has pleaded guilty to tax evasion in a deal that allows him to dodge prison time, indicating that he is cooperating with prosecutors.

Evgeny Freidman, a taxi operator who allegedly owed some $5 million in back taxes, entered into the surprise plea deal in Albany on Tuesday.

His lawyer, Patrick Egan, said he was satisfied with the guilty plea. Freidman — the so-called Taxi King of New York who operated taxis for Cohen's family and others — will serve five years of probation for evading $50,000 in taxes.

Egan declined to comment on whether his client was cooperating with federal prosecutors in Manhattan who are investigating Cohen's financial dealings.

See original article on Fortune.com

More from Fortune.com

• Ex-Valeant Executive Guilty of Taking Pharmacy CEO's Bribe

• 'Wolf of Wall Street' Jordan Belfort Isn't Paying Debts, Prosecutors Say

• Ex-HSBC Currency Trader Mark Johnson Sentenced to 2 Years in Prison

• Billionaire Vincent Bollore Charged in French Bribery Investigation

• LendingClub Accused by U.S. of Deception on Hidden Loan Fees