Who was defrauded by Darryl Cohen?
Jrue Holiday, Chandler Parsons, and Courtney Lee were among the NBA players defrauded by Darryl Cohen.
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Ex-NBA Advisor Convicted of Defrauding Jrue Holiday & Others | Ohio Supreme Court Limits Retroactive Marriage in LGBTQ Custody Case | DOJ Rule Change Sparks Ethics Debate | NBA Playoff Predictions and DFS Picks for April 24, 2026 | Jaylen Brown and Jrue Holiday Invest in Boston Entrepreneurs | Restoring the Supreme Court's Legitimacy | Trail Blazers Win Jrue Holiday Trade as Anfernee Simons Struggles | California AB 2321: New Requirements for Workplace Accident Investigations | Supreme Court Actions: Pregnancy Discrimination Case and "Tiger King" Appeal | Ex-NBA Advisor Convicted of Defrauding Jrue Holiday & Others | Ohio Supreme Court Limits Retroactive Marriage in LGBTQ Custody Case | DOJ Rule Change Sparks Ethics Debate | NBA Playoff Predictions and DFS Picks for April 24, 2026 | Jaylen Brown and Jrue Holiday Invest in Boston Entrepreneurs | Restoring the Supreme Court's Legitimacy | Trail Blazers Win Jrue Holiday Trade as Anfernee Simons Struggles | California AB 2321: New Requirements for Workplace Accident Investigations | Supreme Court Actions: Pregnancy Discrimination Case and "Tiger King" Appeal
Law / Sports Law
Ex-NBA Advisor Convicted of Defrauding Jrue Holiday & Others
Former Morgan Stanley investment advisor Darryl Cohen was convicted of wire fraud and investment advisor fraud for defrauding NBA players, including Jrue Holiday, Chandler Parsons, and Courtney Lee, of over $5 million.
Key Insights
- Darryl Cohen was convicted of defrauding NBA players of over $5 million.
- Cohen exploited his advisory role to sell life insurance policies at massive markups.
- He diverted funds to a basketball-related nonprofit for personal use, including building athletic facilities in his backyard.
- Cohen faces up to 20 years in prison and may appeal the conviction.
In-Depth Analysis
Darryl Cohen, an ex-investment advisor, was found guilty by a Manhattan jury of defrauding NBA players. The scheme involved selling life insurance policies at inflated prices and diverting funds disguised as donations to a basketball nonprofit. These funds were then used for personal expenses, including constructing athletic facilities. Cohen's defense, claiming the players approved the transactions, was unsuccessful. He faces a lengthy prison sentence and potential appeals.
FAQ
What was Cohen convicted of?
Cohen was convicted of wire fraud and investment advisor fraud.
What was the total amount Cohen defrauded from the players?
Over $5 million.
Takeaways
- Investment advisors have a fiduciary duty to act in their clients' best interests.
- Always scrutinize financial transactions and seek independent advice.
- Diversion of funds, even under the guise of charitable donations, can be a form of fraud.
Discussion
What are your thoughts on this conviction? Share this article with others who need to stay informed about financial fraud! Do you think this sentence is harsh enough? Let us know!
Sources
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