On March 23, 2023, the Department of Justice announced the arrests of Brian Gilder, Darryl Cohen, Charles Briscoe and Calvin Darden, Jr.

NEW YORK, NEW YORK, USA, March 24, 2023/EINPresswire.com/ -- MDF Law, a New York based law firm, wants to speak to former clients of Brian Gilder, Darryl Cohen, Charles Briscoe and Calvin Darden, Jr. On March 23, 2023, the Department of Justice unsealed an indictment against these individuals. The indictment, filed in the Southern District of New York, alleges that the former financial planners stole millions of dollars from professional basketball players. The case is USA v. Darryl Cohen, et. al. It was assigned index number 1:23cr134.

In addition to the criminal case, the Securities and Exchange Commission also filed a civil case against Darryl Cohen. That case is SEC v. Darryl Matthew Cohen. It was assigned index no: 1:23-cv-2453.

According to the indictment, between 2017 and 2020, investment adviser Darryl Cohen, along with an independent financial planner Brian Gilder, orchestrated a scheme to defraud professional basketball players out of millions of dollars. Cohen and Gilder induced the athletes to purchase viatical life insurance policies at massive markups, but did not disclose that Brian Gilder had arranged for a law firm he controlled to purchase and sell them to the athletes at significant markups, with the law firm making $4.5 million in profit. Cohen and Gilder used the illicit proceeds to pay for personal expenses, including home renovations and personal credit card bills. Additionally, Cohen directed $500,000 to be transferred from the accounts of two athletes as purported donations to a non-profit organization but instead used around $238,000 of the funds to build athletic training facilities in his backyard. Cohen and Gilder also used a sports agency and another law firm to channel approximately $328,125 of one athlete's money to repay a former professional baseball player.

In a related scheme, an NBA agent Charles Briscoe and a previously convicted fraudster Calvin Darden Jr. defrauded a professional basketball player. Briscoe served as the sports agent of the athlete and introduced the athlete to Darden Jr., who discussed with the athlete an arrangement in which the athlete would indirectly purchase a professional women's basketball team through a company purportedly controlled by a relative of Darden Jr. and advised by a board that included several prominent individuals in sports, entertainment, and corporate America. The athlete caused $7 million to be transferred to a bank account controlled by Darden Jr. in order to purchase and become the full owner of the team, but none of the money went toward the purchase, and the athlete did not become an owner.

If you lost money with Brian Gilder, Darryl Cohen, Charles Briscoe or Calvin Darden, Jr. you may be able entitled to significant money damages. For more information, please call 800-767-8040 and ask to speak with attorney Marc Fitapelli. The charges are allegations, and these individuals are presumed innocent until proven guilty by the United States Justice Department.

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MDF Law PLLC is responsible for the contents of this release. The law firm’s address is 28 Liberty Street, 30th Floor, New York, New York 10005. The phone number is 800-767-8040.

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MDF Law
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