NEW YORK, NY – Four professional basketball players were defrauded of over $13 million, resulting in charges against Darryl Cohen, Brian Gilder, Charles Briscoe, and Calvin Darden, Jr. The U.S. Attorney for the Southern District of New York, Damian Williams announced the unsealing of a six-count indictment in connection with two schemes targeting the athletes. The defendants were arrested in various locations and are scheduled for court appearances.
The indictment alleges that Cohen, a registered investment adviser, and Gilder, an independent financial planner, conspired to defraud three athletes of over $5 million through various means, including the sale of viatical life insurance policies at massive markups.
Briscoe, an NBA agent, and Darden, Jr., a previously convicted fraudster, are accused of defrauding players by misappropriating funds meant for the purchase of a professional women’s basketball team and creating a fake sports agency. All four defendants face charges of conspiracy to commit wire fraud and wire fraud, with maximum sentences of 20 years in prison.