Baltimore County man accused of plotting to kill judge faces more charges

Jeffrey Cohen of Indemnity Insurance Corp. indicted on charges of wire fraud and money laundering

(Algerina Perna / Baltimore…)
September 17, 2014|By Jessica Anderson | The Baltimore Sun

The founder of a Baltimore County-based company that provided insurance to nightclubs and bars who was previously charged with misleading regulators now faces additional charges.

The new charges of wire fraud and money laundering mean Jeffrey Cohen, the former CEO of Indemnity Insurance Corp., could face a stiffer sentence if convicted. Officials said he could be sentenced to an additional 120 years imprisonment if convicted on all counts. He was previously facing 15 years in prison for each of five counts of making false statements to an insurance regulator.

Last month, Cohen was detained by authorities after investigators said they found evidence that he plotted to attack two officials, including the Delaware judge overseeing the liquidation of his business. Federal agents said they found weapons and a "target list" of officials, among other items.

Indemnity provided general liability insurance coverage to bar and entertainment companies in several states, including Maryland. The company insured more than 3,000 policyholders and held more than $25 million in premiums, according to the latest indictment

Authorities allege Cohen falsified financial documents in order to mislead insurance policyholders and prospective policyholders into thinking the company was financially stable. The scheme allowed him to obtain $100 million in insurance premiums based on the false representations, according to the new charges. Investigators said Cohen caused the company to write insurance policies that exceeded the companies' financial ability to pay in the event of a liability determination.

Authorities said in June that Cohen misled Delaware insurance regulators reviewing the company's records. Cohen led regulators to believe the company had $5.1 million at Susquehanna Bank. Indemnity, regulators wrote in court documents, actually had a policyholder deficit of $9 million.

He was arrested in June when authorities raided his Reisterstown home. Cohen has denied the fraud allegations.

jkanderson@baltsun.com

twitter.com/janders5

Baltimore Sun Articles
|
|
|
Please note the green-lined linked article text has been applied commercially without any involvement from our newsroom editors, reporters or any other editorial staff.