World Sports Exchange President Jay Cohen, convicted in February of conspiracy and several counts of violating the Wire Wager Act, was finally sentenced today in a Manhattan courtroom.
United States District Court Judge Thomas Griesa fined Cohen $5,000 and sentenced him to 21 months in prison. Both the fine and prison term are the minimum penalties allowed under sentencing guidelines. A motion by Cohen's attorney, Benjamin Brafman, for downward departure from the guidelines was denied in June. The government, meanwhile, asked the judge today for a longer prison sentence, but it was denied as well.
Cohen was one of 21 offshore sportsbook operators brought up on complaints back in March 1998 for violated the federal Wire Wager Act. He was the only one of the indicted persons, however, to have his case go to trial. The rest of the accused were acquitted, entered a guilty plea or remain at large.
Cohen remains out of jail under the same bail terms that were set when he was indicted.
Brafman will file notice within the next few weeks for an appeal.