Crime

NBA Players Had Millions Stolen by Ex-Morgan Stanley Adviser, Prosecutors Say

Alleged $13 million fraud charged as pro athletes are targeted
Darryl Cohen fobbed off exorbitant life policies, US claims

BA Top Shot NFT Creator Must Face Lawsuit to Determine Securities Status — Photographer: Tim Nwachukwu/Getty Images

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By Bob Van Voris and Hadriana Lowenkron

March 23, 2023 at 4:36 PM UTC

Updated on

March 23, 2023 at 7:43 PM UTC

A former Morgan Stanley investment adviser and three others were charged with defrauding professional basketball players of $13 million, in the latest alleged scheme targeting pro athletes.

Federal prosecutors in New York on Thursday charged the former adviser, Darryl Cohen, along with a financial planner, an NBA agent and a former stockbroker in two schemes to cheat players.