Home > News > Judge Orders Cohen to be Held Indefinitely • Bookmark   • Newsletters   • Register Search Options

NEWS STORY

Judge Orders Cohen to be Held Indefinitely

Judge Orders Cohen to be Held Indefinitely
Get XBIZ News
Jul 1, 2006 12:00 PM PDT    Text size: 
SAN JOSE — The saga between Sex.com former owner Gary Kremen and Stephen Cohen, the man who stole the domain name from its rightful owner by submitting a forged document to Network Solutions, is still engaged in a protracted legal battle that is just beginning.

Piling onto his current legal woes, not to mention the $85 million (plus interest) judgment against him for stealing Sex.com from Kremen, Cohen was ordered held in jail indefinitely by Judge James Ware, during which time the court will seek to determine Cohen’s assets. Cohen was found to have lied under oath about his ownership of two foreign accounts, Ware ruled.

According to court transcripts obtained by XBIZ, Cohen allegedly transferred 3.4 million euros between banks shortly before he was arrested in November in Tijuana, Mexico. Cohen denies ownership of these accounts.

Kremen told XBIZ his private investigators discovered the accounts, one believed to originate in Lithuania, the other from Deutsche Bank.

“I think this is clearly the most glaring example with these transfers so apparent three weeks before his arrest, but there are a couple other banks we’ve also identified for the court in this paperwork, too, that Cohen neglected to include in either his declarations or either of his two depositions,” Kremen’s lawyer, Tim Dillon, said.

In 2001, Judge Ware ordered Cohen to place $25 million in the court’s control and not transfer any money between his accounts. Cohen has allegedly violated the judge’s ruling with the transfer.

“In six months time when he comes back before the court, it would then be my position to have plaintiff give me further status report with respect to its investigation of this account,” Ware said. "I’m exercising my discretion to hold [Cohen] in custody until that period of time.”

While many incorrectly assume that Cohen has been formally found guilty and sentenced to prison, Kremen is quick to point out that is not the case. In 2001, there was a formal finding of fact that Cohen had forged the document awarding him Sex.com. Thus far, Cohen has not been officially charged with domain name theft, tax evasion or other charges.

“I really don’t wish Cohen any harm,” Kremen said. “I feel sorry him. It seems like he’s in a very tough prison. Most people think this case is over, but it’s really just beginning. Today he filed a motion with the 9th Circuit Court claiming he has 9 cents to his name. It was handwritten in his prison cell. He must think he’s a great jailhouse lawyer.”

More ways to get XBIZ News:  RSS Feeds  |  E-Newsletters  |  Desktop Widget  |  Mobile
Looking for porn star news and behind-the-scene videos? Check out XFANZ.com !

OPINIONS & VIEWS

Focusing, Again, on Tradeshow Etiquette

I’m very excited to have been asked by XBIZ World to write the third part of my ongoing series of articles on tradeshow etiquette. In Part I of the series, I discussed business cards, substance... More »

Retail Sales Get Boost From Staff Morale Building

My job is, and always has been, to do what is asked of me to the best of my ability. I’ve worn many hats in this company, as it’s not only adult retail but adult nightlife as well. I’ve... More »

Looking Back at 2016’s Highlights

2016 was fraught with highs and lows. As an industry, we mourned the loss of friends and loved ones and welcomed new life into the world. With the presidential election behind us and California’s... More »
XBIZ NEWSLETTERS
Stay informed of the latest industry developments. Get XBIZ newsletters delivered to your inbox. Subscribe today!
Enter email address:

* To manage existing subscriptions click here.






POPULAR PRODUCTS & SERVICES
Submit your press release to
multiple news outlets with 1 click.
Subscribe to RSS news feeds or
add free content to your website.
Access XBIZ news and articles
with your mobile device.
Subscribe to XBIZ World magazine, the industry's leading e-commerce trade publication, delivering in-depth coverage of the online, mobile and ancillary digital markets.

UPCOMING EVENTS

Everything To Do With Sex Show

Jan 20 - Jan 22
Montréal, Québec

Everything To Do With Sex Show

Jan 27 - Jan 29
Halifax, Nova Scotia

The European Summit

Mar 04 - Mar 07
Barcelona-Sitges, Spain

The TEA Show

Mar 05 - Mar 06
Hollywood, CA
Everyday thousands of business professionals browse XBIZ's industry directory for quality products and services. Not listed yet? Your company could be losing potential new business. Submit your company today!
Use XBIZ RSS feeds to stay informed of the latest industry developments or as a content syndication tool for your website!