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A Personal Gold Mine

By Michael Frisch

Another disbarment from the New York Appellate Division for the First Judicial Department

In September 5, 2023, respondent was convicted in Supreme Court, New York County, upon his plea of guilty, of grand larceny in the first degree, a class B felony (Penal Law § 155.42); three counts of criminal tax fraud in the third degree, a class D felony (Tax Law § 1804); two counts of criminal tax fraud in the fourth degree, a class E felony (Tax Law § 1803); offering a false instrument for filing in the second degree, a class A misdemeanor (Penal Law § 175.30); and perjury in the third degree, a class A misdemeanor (Penal Law § 210.05).

Respondent’s conviction stemmed from his admission to stealing more than $1 million over six years from his former employer and failing to declare the funds on his New York State income tax returns. Respondent further filed a civil action in Supreme Court, New York County, against his former employer, in which he falsely swore that the defendants had wrongfully accused him of stealing from the firm.

Reuters reported on the crime

A New York lawyer has been sentenced to up to 7.5 years in prison after stealing more than $1.2 million from his law firm to spend on luxury items like a diamond-encrusted watch, said Manhattan prosecutors.
 
Arthur Cohen, 72, was sentenced between 2.5 years and 7.5 years on Tuesday, Manhattan District Attorney Alvin Bragg said in a statement that called Cohen’s crime a “brazen scheme.”
 
Cohen pleaded guilty to grand larceny in the first degree last month for stealing from now-defunct law firm Gordon & Silber in Manhattan.
 
Cohen’s lawyer, Jacob Kaplan of Brafman & Associates, did not immediately respond to a request for comment.
 
As senior equity partner and treasurer at Gordon & Silber, Cohen used the firm as his “personal gold mine,” prosecutors said.
 
Cohen spent firm funds on a $40,000 diamond-encrusted Cartier watch and a $57,000 diamond ring, and spent more than $100,000 to pay off his son’s American Express card debts, prosecutors said. He also used stolen firm funds for luxury hotel stays and on luxury automobiles, prosecutors alleged.
 
(Mike Frisch)

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Bar Discipline & Process