WSEX.com Founder Jay Cohen Assets Sought Ahead of Possible Lawsuit

Gambling911.com intrepid reporter Thomas Somach has learned that an Ohio man who plans to sue now defunct World Sports Exchange (WSEX.com) founder Jay Cohen for almost $70,000 owed plans to hire an investigative team to locate the ex-convict’s assets believed to be hidden around the world.

Cohen served nearly two years behind bars for his role in running World Sports Exchange.  Last year, co-owner Steven Schillinger gave new meaning to the term “deadbeat” when he blew his brains out, at the time owing countless numbers of customers well over a million dollars.

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“Rumors have persisted for years that much of the stolen customer money is hidden in secret bank accounts in Switzerland and Cayman Islands and elsewhere,” Somach tells Gambling911.com. “Should this man win his lawsuit, he fears Cohen may say he 's broke to avoid paying the monies owed and that Cohen will hide all his dough before the suit comes to court, so they are looking for hard assets now and once the suit is filed the assets could be frozen immediately, as opposed to waiting until the suit is decided.”

Somach adds:  “If Cohen's got a penny in his own name they will find it.”

The Ohio man is also teaming up with other former customers of WSEX.com owed monies.

“If a court determines Cohen has assets and they find he is attempting to hide them, he’ll be taking a tremendous risk and could end up back in prison,” Somach added.

Ten years ago, few would have suspected Cohen of being a wolf in sheep's clothing but ultimately his baaaaaaaad disposition revealed itself.  The former nuclear physicist routinely appeared on industry message boards condemning what he viewed as a "lack of integrity" in online gambling. 

Since the closure of WSEX and even prior to this time when customers began demanding their monies, Cohen has remained MIA.

- Jagajeet Chiba, Gambling911.com