Marin businessman gets 22-year sentence for fraud

April 30, 2012 2:53:36 PM PDT
A Marin businessman has been sentenced to 22 years in prison for defrauding dozens of investors including actors Danny Glover and Harry Belafonte.

Samuel "Mouli" Cohen was convicted of stealing tens of millions of dollars from investors to pay for a lavish lifestyle that included a house in Belvedere and a private jet used to shuttle around actors and musicians. He was convicted last year of fraud, money laundering, and tax evasion.

On Monday, a federal court judge ordered Cohen to pay back $31 million to his victims. Investors are doubtful they'll ever see the money again. "From the sound of it, I think he spent it all. Or what he's got left, he's got squirreled away. It would be nice to get a little something back, but I'm not hopeful," victim Sam Mills said.

Among Cohen's victims was Vanguard Public Foundation, a San Francisco civil rights charity that was forced to shut down.


Load Comments