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The culmination of this personal unraveling arrived on the evening of July 15, 2013, a date that would etch Chris Cohan’s name into the annals of infamy. Caught in the crosshairs of an FBI investigation into illegal backdoor trading on Wall Street—a scheme involving confidential information from his brokerage firm—Cohan faced a barrage of federal indictments. The charges were staggering: conspiracy, securities fraud, and wire fraud. The evidence was damning, revealing a man who had leveraged his insider knowledge for personal gain, betraying the very trust placed in him by his clients and the financial markets he claimed to serve. Facing the very real possibility of decades in prison, and with his public image in complete tatters, Cohan had a stark choice. He chose a path of atonement, however belated. In a move that stunned the sports world, he agreed to sell the Golden State Warriors. The sale, finalized in 2015 for a then-record $2.5 billion to a group led by Joe Lacob and Peter Guber, was not just a transaction; it was an exorcism. For Chris Cohan, the sale was a financial liberation of staggering proportions but also a profound personal defeat. He was forced to relinquish the very symbol of his success, the team he had molded in his image, not for a love of the game, but as part of a legal plea deal. He ultimately pleaded guilty to one count of conspiracy to commit securities fraud and one count of wire fraud, resulting in a sentence of probation and a $10 million fine, a mere fractional punishment compared to the potential decades behind bars.
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