Richard Alan Cohen, 63, from Sherman Oaks, California, pled guilty to more than 24 felony counts related to telemarketing scam.
Cohen was sentenced on Monday January 30, 2012 to 153 months in federal prison behind bars and ordered to pay millions of dollars in restitution for his part in the telemarketing scheme he ran with his son that cheated about 1,000 victims nationwide out of millions of dollars.
Cohen's 36-year-old Daniel Cohen of Calabasas, was sentenced to 151 months in federal prison last week.
Joshua Hoffman, 41, a third defendant from Malibu, California, was sentenced to five years in prison in 2010 when he pled guilty in this scheme and also a fraud case that victimized various companies and organizations that thought they were purchasing advertising in magazines.
About 10 years ago, the Cohens formed several companies including Eurobrand, LLC, doing business as Euromints; Samuel & Cohen Media, LLC; Mintech International Inc.; and Rig Leasing Inc.
Claiming that these businesses were successful and generated large profits, The Cohens solicited money from investors by using a team of salespeople who worked in a boiler room in Calabasas.
Reality was that the Cohen companies were not successful, the stock certificates issued by the companies were worthless, and the money received was used to pay for the Cohens' luxurious lifestyle.
Fraudulent crimes charged in federal court are extremely serious and have extremely heavy consequences. Being evident from this current case, if you are charged with fraud in federal court you can spend more than 10 years in federal prison.
Our Los Angeles Federal Defense Attorneys are experienced in handling such cases and if you are facing a federal crime we are ready, willing, and available to help you.
Our experience, skill, and legal strategy guarantees our competent and aggressive approach.
If you are facing fraud or any other crime in federal court, contact our
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