NY Couples Claim Man Orchestrated Adoption Scam
Prosecutors have charged a New York attorney with victimizing thirteen different couples in a Ponzi-like adoption scheme spanning multiple states. Kevin Cohen was arraigned on Wednesday in an indictment in which he was accused of grand larceny, as well as other charges.
The Nassau County Prosecutor’s Office said that Cohen promised couples from five states that he could arrange adoptions. The babies he promised could be adopted never actually existed. Prosecutors liken the case to a Ponzi scheme because they allege that Cohen partially refunded some of the disappointed couples with proceeds he had collected from subsequent couples. He is suspected of having taken over three hundred thousand dollars.
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Check out what others are saying about this post...[...] jury has found the businessman Tom Petters guilty of twenty counts of fraud, conspiracy, and other charges, composing what prosecutors called a $3.5 billion Ponzi scheme. [...]