Broker Dealer Negligence Attorney.

Former Morgan Stanley Broker Darryl Cohen Allegedly Defrauded NBA Stars of Over $13M

Our Trusted Broker Fraud Lawyers Are Investigating Claims of Investor Losses

The Shepherd Smith Edwards and Kantas Broker Dealer Negligence Attorney teams (investorlawyers.com) are continuing to speak to former customers of ex-Morgan Stanley financial advisor Darryl M. Cohen. He was barred from the industry in 2021.

Cohen, also of The Cohen Group, is now facing criminal charges accusing him of involvement in two scams that allegedly defrauded four NBA athletes of more than $13M. The purported investment schemes are said to involve the purchase of viatical life insurance policies at “massive markups” that went as high as 310%. The former California financial advisor allegedly used a number of these clients’ funds to pay for his own lavish expenses and toward other unauthorized uses. Meanwhile, the US Securities and Exchange Commission (SEC) has filed civil charges accusing Cohen of misappropriating over $1M from current and past professional basketball players.

Why Work With Our Seasoned Broker Dealer Negligence Attorney Firm?

With over 30 years dedicated to representing retail investors, high-net-worth individual investors, and institutional investors, our skilled broker-dealer negligence attorneys have successfully gone up against the largest firms on Wall Street to help our clients pursue the damages they are owed. We know that investor losses can be devastating, even for those who are wealthy, and we take allegations of broker misconduct very seriously.

Some of us are former brokers ourselves, which makes us highly knowledgeable about the unsavory practices that can occur in that industry. It is why we left that business to focus on fighting for investors. As one of the largest securities fraud firms in the United States, we have the resources, savvy, and manpower to tackle even the toughest investor fraud cases while protecting our client’s rights.

Representing Pro Athletes and Other High-Net-Worth Investors Against Brokerage Firms

At Shepherd Smith Edwards and Kantas, we know how devastating it can be to lose money, especially because of the wrongful or careless actions of a financial professional you entrusted to take care of your funds. Unfortunately, even the wealthiest investors can fall victim to broker misappropriation and to devastating consequences.

Former and current professional athletes continue to remain targets of unscrupulous financial advisors seeking to take advantage of their high-net-worth and, in many cases, inexperience with investing. Consider that many NBA, NFL, NHL, MLB, WNBA,  and other athletes often earn the bulk of their income while they are young. For those who have their hard-earned income decimated because of broker fraud or negligence, this can lead to serious financial problems for them later in life.

You want to work with high-net-worth investor loss attorneys that can help you build a solid securities lawsuit against your broker-dealer and their financial advisor. Your individual claim is separate from what prosecutors and regulators might do to hold a financial firm and their registered representative liable. It is your FINRA lawsuit, with the help of reliable broker fraud lawyers, that will maximize your chances of receiving damages.

How To Contact Us an SSEK Broker Dealer Negligence Attorney: 

When you hire Shepherd Smith Edwards and Kantas, you are retaining the services of our entire team of securities lawyers, experienced legal assistants, and other key consultants that have over a combined century’s worth of experience in securities law and the securities industry. Over the years, we have collectively recovered many millions of dollars for thousands of investors.

More than 90% of our clients have received full or partial financial recovery.

If you are a former client of ex-Morgan Stanley broker Darryl Cohen and you would like to explore your legal options during a free, no-obligation case assessment, call (800) 259-9010 or contact us online.