Darryl Cohen had already been barred from the securities industry after being accused of stealing from Jrue Holiday, Chandler Parsons and Courtney Lee.
A former-Morgan Stanley advisor has been charged with stealing $13 million belonging to six current- and former-NBA players who were his clients, and funneling it into his own pockets and those of a financial advisor, an agent and a convicted fraudster.
The six players were not named in court papers, but three of them are Jrue Holiday, a two-time all-star with the Milwaukee Bucks, Chandler Parsons, a forward who played with several teams and retired in 2020 after being injured in a car crash, and Courtney Lee, a guard who played for 12 seasons in the NBA, according to an attorney who represented the three players in civil cases brought against Cohen.
Cohen and Gilder then allegedly used the excess cash to pay off their own mortgages and pay for hundreds of thousands in home improvements. Cohen is also charged with using $200,000 to give to a woman he was having an affair with, federal prosecutors in New York said. In separate but related schemes, prosecutors also charged Charles Briscoe, a 35-year-old NBA agent from Texas, and Charles Darden, Jr., a 49-year-old convicted fraudster who served several stints in prison for fraud, most recently for ripping off lenders in a bid to buy the men’s magazine Maxim in 2013.
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