Father, Son Face Prison Time in Fraud Case

A father and son face hundreds of years in federal prison for scamming millions of dollars from investors in their sham companies. Richard Alan Cohen, of Sherman Oaks, pleaded guilty May 3 to fraud, money laundering and tax offenses in the scheme that also included his son, Daniel Cohen. The younger Cohen entered his guilty plea to 20 felony counts in April. The pair will be sentenced in the fall in U.S. District Court with Richard Cohen facing a maximum of 306 years in prison and Daniel Cohen facing a maximum of 290 years in prison. The Cohens bilked investors out of about $39 million through their companies – Eurobrand LLC; Samuel & Cohen Media LLC; Mintech International Inc.; and Rig Leasing Inc. The investors were told the companies were successful and profitable when in fact the stock they purchased was worthless, according to federal prosecutors. A portion of the money received from the investors was used by the Cohens to fund their lavish lifestyles, which included luxury automobiles and Daniel Cohen’s home in Calabasas, prosecutors said. A partner in the scheme, Joshua Hoffman, of Malibu, also pleaded guilty and was sentenced in March to 5 ½ years in prison.