U.S. SEC Associate Director of Enforcement Cohen to Resign
- Fraud charges against Computer Sciences Corporation and former executives for manipulating financial results and concealing significant problems about the company’s largest and most high-profile contract, resulting in a $190 million penalty against CSC and approximately $5 million in monetary sanctions against the executives.
- Fraud charges and an emergency asset freeze against the operator of a $600 million online Pyramid and Ponzi scheme and his company for illegally raising money from more than one million Internet customers nationwide and overseas through the website ZeekRewards.com.
- Charges against two exchanges formerly owned by Direct Edge Holdings and since acquired by BATS Global Markets for failing to accurately describe the order types being used on the exchanges.
- Fraud charges against three brokerage subsidiaries and two former employees of global trading services provider ConvergEx Group LLC and the former CEOs of two of the brokerage subsidiaries – ConvergEx Global Markets and G-Trade Services LLC, in a scheme causing many institutional clients to pay substantially higher amounts than disclosed for the execution of trading orders.
- Charges against current and former brokerage subsidiaries of E*TRADE Financial Corporation that failed in their gatekeeper roles and improperly engaged in unregistered sales of microcap stocks on behalf of their customers.
- The SEC’s first charges in an EB-5 visa offering fraud against Anshoo R. Sethi and two companies Sethi created to sell more than $147 million in securities to purportedly finance the construction of a hotel and conference center near Chicago’s O’Hare Airport.
Mr. Cohen joined the SEC in 2004 as an Assistant Chief Litigation Counsel in the Enforcement Division from the Washington, D.C., office of Boies, Schiller & Flexner after serving as a trial attorney at the U.S. Department of Justice as part of the Attorney General’s Honors Program. Mr. Cohen also clerked for the Honorable Ursula Ungaro in the U.S. District Court in Miami. Mr. Cohen received the SEC Chair’s Award for Excellence in 2013 for his role in the agency’s rulemaking to develop a Consolidated Audit Trail, and the SEC’s Law and Policy Award in 2011 for his involvement with the implementation of the Dodd-Frank Act.
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