Calabasas Man, Father Plead Guilty to Felony Fraud Counts

A father and son recently pleaded guilty to conning around 1000 people across the country out of almost $40 million with fake investment opportunities.

Daniel Cohen, 34, of Calabasas, and his father Richard Alan Cohen, 61, of Sherman Oaks, pleaded guilty to multiple felony counts, including fraud, money laundering, conspiracy to evade tax laws, causing victims to travel in relation to fraud and more.

The younger Cohen pleaded guilty to 20 felony counts on April 22, including those related to multiple sham companies. One of the companies, Euromints, supposedly produced caffeinated mints. He and his father formed multiple companies in the mid 1990s and solicited investment money from people by lying about the success and profit margin the companies produced.

The U.S. Attorney’s Office said the Cohen’s solicited potential investors using several methods, including employing a team of salespeople who worked in a Calabasas “boiler room” and told people the companies were preparing to go public or accept take-overs by larger companies.

The elder Cohen pleaded guilty to 26 counts related to the case on Monday. Both men face hundreds of years in prison when a judge sentences them this fall. A judge sentenced Joshua Hoffman of Malibu, 40, to more than five years in prison for his part on the Cohen’s scam in March.

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