Boca Raton Man Guilty in $1.45 Million Investment Fraud Scheme

David Bruce Cohen, of Boca Raton, was convicted of two counts of grand theft and one count of money laundering for his role in an investment scheme that defrauded a Florida resident out of nearly $2.5 million.

Cohen induced the victim to invest two separate times - $1,200,000 in a cannabis company with 8 percent return, and $250,000 in a townhouse project with 12 percent return, with ECP Capital Partners, Inc., (ECP) a firm that Cohen controlled. However, the victim never received returns from the investments.

A review of financial institution records revealed that Cohen had been transferring funds obtained from the victim out of ECP’s account and into his own account for various personal uses, as well as to make victim restitution payments on a prior unrelated criminal case.

This case was developed jointly with the OFR and the Palm Beach County Sheriff’s Office.