20-Year Sentence for Man Who Defrauded NBA Players

Daryl Cohen, a former financial advisor, has been sentenced to 20 years in prison for defrauding three NBA players.

From 2015 to 2023, Cohen defrauded professional athletes, causing financial losses totaling millions of dollars. He had worked at major banks such as Morgan Stanley and Wells Fargo, and presented himself as an expert in managing athletes' funds.

Among the victims were Jrue Holiday, Lauren Holiday, Chandler Parsons, and Courtney Lee. Cohen convinced them to invest in life insurance policies with excessive markups.

The total cost of the lost funds is estimated at $13 million. Cohen is also accused of unreasonable money transfers, with some of the funds being used for personal expenses, such as building sports facilities at his home.

In the same case, Calvin Darden Jr. was convicted of fraud against Dwight Howard.