Darryl Cohen, a former Morgan Stanley financial adviser, has been convicted of federal fraud charges for defrauding three NBA stars out of $5 million. Cohen duped the athletes into purchasing specialized life insurance policies at astronomical markups as high as 310%. Some of the money was used to build a state-of-the-art gym in his backyard and pay off his credit card. Cohen was convicted of wire fraud and investment adviser fraud, which carries a maximum sentence of 20 years.