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Broker who sold GWG bonds faces deluge of investor complaints


A Los Angeles-based broker who was a big seller of GWG Holdings bonds is facing a staggering $7.85 million in investor lawsuits as GWG winds its way through bankruptcy proceedings and no one knows what the bonds are worth. The broker, Tony Barouti, is registered with Emerson Equity, the lead seller and underwriter of GWG […]

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4 People Accused of $13 Million in Pro Athlete Fraud Schemes

New York Times

Four people were arrested Thursday and charged with collectively defrauding four professional men’s basketball players out of more than $13 million, according to Damian Williams, the United States Attorney for the Southern District of New York. In one scheme, three players were allegedly persuaded to purchase more than $5 million worth of life insurance policies […]

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Ex-Morgan Stanley advisor charged with defrauding NBA players out of $13 million


Former Morgan Stanley advisor Darryl Cohen was arrested on Thursday morning for allegedly defrauding current and former NBA players including Jrue Holiday, Chandler Parsons and Courtney Lee. Cohen is charged with one count of conspiracy to commit wire fraud and one count of wire fraud, according to federal prosecutors. Each count carries up to a […]

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Ex-Morgan Stanley advisor and three others charged with fleecing NBA players out of $13 million


It was a deeply personal foul. A former-Morgan Stanley advisor has been charged with stealing $13 million belonging to six current- and former-NBA players who were his clients, and funneling it into his own pockets and those of a financial advisor, an agent and a convicted fraudster. Darryl M. Cohen, 49, of Chatsworth, California, is […]

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NBA Players Had Millions Stolen by Ex-Morgan Stanley Adviser, Prosecutors Say

yahoo! finance

A former Morgan Stanley investment adviser and three others were charged with defrauding professional basketball players of $13 million, in the latest alleged scheme targeting pro athletes. Federal prosecutors in New York on Thursday charged the former adviser, Darryl Cohen, along with a financial planner, an NBA agent and a former stockbroker in two schemes […]

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