Request Legal Help Now - Free

Advertisement
LAWSUITS NEWS & LEGAL INFORMATION

New Jersey Man Indicted on Charges of Securities Fraud

. By
New Brunswick, NJA Middlesex County grand jury recently indicted a man from Brick Township, New Jersey, on charges of securities fraud, NJToday.net reports.

Philip Cohen, 75, is accused of stealing approximately $82,000 from a Woodbridge woman by keeping her money that was supposed to be invested for her.

An investigation, led by detective Timothy Laughery of the Woodbridge Police Department and investigator Lisa Collins from the Middlesex County Prosecutor's Office, found that Cohen took funds from the 61-year-old woman between January 2008 and March 2010, the news source said.

Cohen, who is alleged to have said he was a licensed securities trader, is accused of telling the woman that he had been investing the money in some energy stocks, despite never actually depositing any funds with a brokerage firm, according to the news provider.

After the woman began to question Cohen about her investments, he reportedly disappeared sometime prior to March 23, and he remains at large, according to authorities.

A warrant for Cohen's arrest had been issued after a grand jury in Ocean County, New Jersey, charged him with theft using deception and two counts of writing bad checks in a separate case, according to the Star-Ledger.

READ ABOUT SECURITIES LAWSUITS

Securities Legal Help

If you or a loved one have suffered losses in this case, please click the link below and your complaint will be sent to a securities fraud lawyer who may evaluate your Securities claim at no cost or obligation.

ADD YOUR COMMENT ON THIS STORY

Please read our comment guidelines before posting.


Note: Your name will be published with your comment.


Your email will only be used if a response is needed.

Are you the defendant or a subject matter expert on this topic with an opposing viewpoint? We'd love to hear your comments here as well, or if you'd like to contact us for an interview please submit your details here.


Click to learn more about LawyersandSettlements.com

Request Legal Help Now! - Free