The trial for Samuel “Mouli” Cohen, which was scheduled to begin on September 19, 2011, is now set to begin on October 17, 2011. Jury selection will begin on October 13, 2011. The trial will be held in San Francisco before Judge Charles R. Breyer.
As previously reported, in August 2010, federal prosecutors in California unsealed a criminal indictment charging Samuel “Mouli” Cohen of 19 counts of wire fraud and 13 counts of “engaging in Monetary Transactions in Criminally Derived Property.” The charges stem from allegations that Cohen defrauded over 55 investors, including actor Danny Glover, out of more than $30 million with claims that his company was about to be acquired by Microsoft Corp.
In August 2011, federal prosecutors added three counts of tax evasion for signing “false and fraudulent U.S. Individual Tax Return(s)” for the years 2005, 2006 and 2007 (see Mouli Cohen’s Superseding Indictment).
The government has filed a list of 34 witnesses that could be called to trial, many of which appear to be victims of Cohen’s scheme. Prosecutors have also supplied a list of more than 170 exhibits that could be brought into evidence at the the trial which include bank account records, tax records and emails.
According to information on the Federal Bureau of Prisons website, Cohen is currently being held at the Metropolitan Detention Center in Los Angeles, however, on August 26, 2011 Judge Breyer signed an order setting bail at $10 million and setting certain conditions upon release. Update: Cohen met the conditions of his bail and was released on Tuesday, September, 20, 2011.
Cohen, who is required to have armed security guards throughout the period of his release, had to advance $80,000 to the security guard company to provide 24 hour security from the time of release through the end of October.
Cohen is required to wear a GPS device, is not allowed any communication except through a land-line phone and is bound to his wife’s residence at all times except to travel to the offices of his attorney or to Court.
As previously reported on this website, there were numerous “red flags” in Cohen’s background that should have been cause for concern for any investor prior to his arrest in August 2010.
Previous Posts on Samuel “Mouli” Cohen: