Alleged $30 Million Investment Fraud Results in Conviction
Actor Danny Glover and the Vanguard Public Foundation were just two victims in an alleged $30 million investment fraud. A federal jury has found Samuel Cohen, a.k.a. Mouli Cohen, guilty on 29 counts, including fraud and related charges.According to federal prosecutors, Mr. Cohen told investors that his company Ecast was about to be acquired by Microsoft, and that Microsoft would exchange shares in Ecast for shares in Microsoft that were worth six to ten times as much as the Ecast shares. However, prosecutors alleged that no such deal was actually in the works, and Mr. Cohen is accused of using the investment money on personal items, including luxury cars, jewelry, and vacations.
Mr. Cohen is scheduled to be sentenced in February 2012. He faces up to 20 years in prison.
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The Law Firm of Meyer Wilson is the only Ohio law firm that is exclusively dedicated to individual investor claims and class actions. Our Cleveland investment fraud lawyers have successfully represented investors all throughout Ohio in securities arbitration, mediation, and litigation claims against the stockbrokers, brokerage firms, and financial advisors who caused them financial harm. All of our cases are handled on a contingency fee, and we do not request retainers of any kind.
To schedule a free consultation with an experienced Cleveland investment fraud attorney, please call our Ohio investment fraud law firm today at 614-224-6000 or toll-free at 1-866-827-6537. We also invite you to read our FREE book for more information about your rights and potential recovery: Five Signs of Investment Fraud... And What to Do if it's Happened to You.
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