Every good criminal has their secret stash of cash that they are either hiding from the government or using for illicit “working capital” purposes. Usually, this cash is held in safes, briefcases or good old fashioned sacks with dollar signs on them.
Which is why it has piqued the interest of many that a Goldman Sachs banker on trial for insider trading somehow was able to stuff his secret stash of $24,000 into a peculiar place: his sunglasses case.
Prosecutors pointed out on Tuesday that the stash was indicative that the banker, Bryan Cohen, could be a flight risk before his trial, according to Bloomberg.
The $24,000 was hidden in a case, which was hidden in a dresser drawer in his closet, prosecutors said. Cohen, who is a French citizen, also has an overseas bank account with more than $533,000 in it and owns four properties in France that are worth over $500,000.
Bail was set by U.S. District Judge William Pauley at $750,000 and Cohen has since been ordered to remain under house arrest with a GPS bracelet until his trial. Cohen is seeking to be removed from house arrest.
Cohen’s lawyer – and former Martin Shkreli lawyer – Benjamin Brafman argued on Monday that his client’s confinement to his one bedroom apartment that he is sharing with his girlfriend and mother was “detrimental to his physical and mental health”.
Locked in a room with your girlfriend and your mother? We can totally understand that argument.
Brafman also argued that it’s not unusual in other cultures to have large amounts of cash at home, including in France.
Cohen was arrested in October and charged with two counts of conspiracy for his role in an insider trading ring. Prosecutors say he passed information about pending mergers to another member of the ring using burner phones and speaking in code. He has been placed on leave by Goldman Sachs in the interim. Cohen had fired his first lawyer last month after a judge ordered him under house arrest and tripled his bond, which was originally set at $250,000.