Samuel "Mouli" Cohen

Samuel "Mouli" Cohen

Mouli Cohen

Mouli Cohen
Born Samuel Cohen
(1958-04-08) April 8, 1958[1]
Jerusalem, Israel[2]
Nationality Israeli-American[2]
Other names Mouli
Occupation Prisoner housed at Terminal Island, Federal Bureau of Prisons; ex-entrepreneur, executive, venture capitalist
Criminal charge Wire fraud, money laundering, tax evasion
Criminal penalty 22 years imprisonment
Criminal status Incarcerated at FCI Terminal Island; Federal Bureau of Prisons Register #57613-112;
projected release date: 16 November 2029[3]
Spouse(s) Stacy Jean Stripling
Conviction(s) 9 November 2011[4]
Partner(s) Hari Dhillon[5]

Samuel "Mouli" Cohen (born April 8, 1958) is an Israeli entrepreneur, executive and venture capitalist, who has held the positions of president, chairman, and CEO of several public and private video game companies which, according to Cohen, "have generated over $3 Billion in shareholder value".[6] The companies Cohen has been involved in since the 1980s include: Playnet Technologies, Voltage Capital, LAMIA, Aristo International and Ecast.[7][8][9] In April 2012, Cohen was sentenced to 22 years in federal prison for a conviction on 15 counts of wire fraud, 11 counts of money laundering and three counts of tax evasion.[10]

Career

In the mid-1990s Cohen put together a team of veteran video game producers, engineers, marketing specialists, and executives for Playnet, a public company listed on NASDAQ. Cohen was President, CEO, and Chairman of the company. Employees included Nolan Bushnell, the inventor of Pong and founder of Atari and Chuck E. Cheese;[11] Joe Ybarra, who worked at Apple before joining Electronic Arts in their startup phase as a producer, and was president of Infocom and Sr. VP of Cheyene Mountain Entertainment;[12] and Glenn Sblendorio, former CFO of Sony Entertainment.[13]

The company developed two main products: A touchscreen controlled "bar top", coin-operated video game machine[14] and a digital jukebox, capable of storing an extremely large selection of songs and able to download new releases.[15] Playnet, later Aristo International, had offices in San Francisco, New York, and Virginia.[13] In October 1997 Playnet announced an agreement with Holiday Inn, a major international hotel chain, to launch a pilot program to install the video game machine in a minimum of six Holiday Inn and Crowne Plaza locations across the US.[16] Playnet filed for Chapter 11 bankruptcy in 1998.

Cohen was the founder of Voltage Capital, a company that Cohen claimed was involved in research and investments in solar energy and other forms of green technology.[17]

Personal life

Cohen was born in Jerusalem, Israel. He migrated to the USA in 1987. He is married to Stacy Jean Stripling, also known as Stacy Cohen, who is the author of the book "Kosher Billionaire's Secret Recipe" published in 2007.[18]

Cohen was featured in the TV series American Greed. An entire episode about his scams were discussed in the Season 7 episode titled: "Dealing in Deceit".[19]

Conviction

In 2009, Mouli Cohen defrauded investors of more than $28 million and two lawsuits were filed.[20] Cohen told investors that his company, Ecast, Inc., was about to be acquired by Microsoft. Based on those false representations, victims purchased some of Cohen’s founders’ shares in Ecast.[21] A federal grand jury in 2010 indicted Cohen on 32 felony counts of fraud and money laundering,[22] and he was arrested in August 2010.[23] In November 2011, Cohen was found guilty of 15 counts of wire fraud, 11 counts of money laundering, and three counts of tax evasion. He was acquitted of six additional charges.[4] After the verdict, Cohen was remanded into custody by judge Charles Breyer.[4][24][25]

U.S. Attorney Melinda Haag said evidence at the trial showed that Cohen collected more than $30 million from defrauding over 55 investors, including actor Danny Glover and the Vanguard Public Foundation (a San Francisco-based nonprofit supported by Glover and Harry Belafonte that funded civil rights efforts).[4][25][26] Cohen was cited as largely responsible for the eventual dissolution of Vanguard in 2011.

Cohen didn't testify at trial and his lawyer said he expected Cohen would appeal the conviction.[25]

At the sentencing hearing, Cohen's lawyer asked for a reduced sentence as recognition of Cohen having given $2 million to charity but the judge pointed out that, "It's other people's money. The fact of the matter is that you gave their money to others and pretended it was yours."[10]

The prosecution described Cohen as a "congenital liar and serial fraudster" and recommended to the court that Cohen be sentenced to between 30 years to life and be denied bail while awaiting sentencing.[27][28] On April 30, 2012, Cohen was sentenced to 22 years in prison.

References

  1. ↑ "Samuel Mouli Cohen Superseding Indictment - August 2011". p. 1. Retrieved 17 January 2012.
  2. 1 2 Sadeh, Shuki (31 May 2012). "The silver tongue and black heart of Mouli Cohen, con-man extraordinaire". Haaretz. Haaretz Daily Newspaper Ltd. Retrieved 22 November 2013.
  3. ↑ "Inmate Locator". Federal Bureau of Prisons. Retrieved 22 November 2013.
  4. 1 2 3 4 "Founder and Former CEO of Technology Company Convicted of Defrauding Victims Out of More Than $30 Million" (Press release). San Francisco: U.S. Attorney for the Northern District of California. 10 November 2011. Retrieved 22 November 2013.
  5. ↑ "Former President And Executive Director Of Vanguard Public Foundation Sentenced To 40 Months In Prison For Fraud And Money Laundering" (Press release). San Francisco: U.S. Attorney for the Northern District of California. 29 January 2013. Retrieved 22 November 2013.
  6. ↑ "Mouli Cohen (moulicohen) on". Scribd. Retrieved 14 May 2016.
  7. ↑ "ARISTO INTERNATIONAL CORP (Form: 10KSB, Received: 01/29/1996 00:00:00)". Edgar.brand.edgar-online.com. Retrieved 2012-11-23.
  8. ↑ "Mouli Cohen's Higher Voltage Assets upon Higher Technologies". Mass Track. 2012-04-12. Retrieved 2012-11-23.
  9. ↑ "PlayNet Files Form 8-K Highlighting Conversion of Debt into Equity, Equity Transactions, and Financing Activities. - Free Online Library". Thefreelibrary.com. 1997-07-31. Retrieved 2012-11-23.
  10. 1 2 "Ex-executive gets 22 years in massive investment fraud | The Portland Press Herald / Maine Sunday Telegram". Pressherald.com. Retrieved 2012-11-23.
  11. ↑ "Retro Game And Computer Nolan Bushnell". RetroGameAndComputer.com. Retrieved 2012-11-23.
  12. ↑ "EA is a Startup". "The Escapist :". Escapistmagazine.com. Retrieved 2012-11-23.
  13. 1 2 "ARISTO INTERNATIONAL CORP (Form: S-1, Received: 10/16/1996 00:00:00)". Yahoo.brand.edgar-online.com. Retrieved 2012-11-23.
  14. ↑ "Androbot". Nethelper.com. Retrieved 2012-11-23.
  15. ↑ "Online Portfolio Sites from Behance || Prosite". Ryanwolfe.prosite.com. Retrieved 2012-11-23.
  16. ↑ "PlayNet and Holiday Inn Sign Pilot Program Agreement". Hospitalitynet.org. 1997-10-10. Retrieved 2012-11-23.
  17. ↑ "Mouli Cohen, Founder of Voltage Capital, Talks about the Past, Present and Future of Solar Power" (PDF). 123seminarsonly.com. Retrieved 2012-11-23.
  18. ↑ "Kosher Billionaires".
  19. ↑
  20. ↑ "Lawsuit says ex-Marin executive defrauded investors". Retrieved 17 January 2012.
  21. ↑ Elias, Paul (May 1, 2012). "Samuel 'Mouli' Cohen Sentenced To 22 Years In Prison For $30 Million Fraud". Huffington Post. Associated Press. Retrieved July 17, 2013.
  22. ↑ Egelko, Bob (10 August 2010). "Fraud suspect indicted; Vanguard among victims". The San Francisco Chronicle. Retrieved 17 January 2012.
  23. ↑ "Ecast Founder Mouli Cohen Convicted Of $30M Fraud". Vending Times. Retrieved 17 January 2012.
  24. ↑ ""Red Flags" You Should Have Seen – A Look Back at Mouli Cohen". Retrieved 17 January 2012.
  25. 1 2 3 Egelko, Bob (11 November 2011). "Mouli Cohen guilty in $30 million investment fraud". The San Francisco Chronicle. Retrieved 17 January 2012.
  26. ↑ "$30 Million Fraud Conviction". Retrieved 17 January 2012.
  27. ↑ Elias, Paul (2012-04-30). "Feds demand convicted con man serve 30 years". BusinessWeek. Retrieved 2012-11-23.
  28. ↑ "Mouli Cohen - Government's Response for Bail Pending Sentencing". Scribd.com. Retrieved 2012-11-23.
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