Jay Cohen (born 1968) is the co-founder and former

CEO A chief executive officer (CEO), also known as a central executive officer (CEO), chief administrator officer (CAO) or just chief executive (CE), is one of a number of corporate executives charged with the management of an organization especially ...

World Sports Exchange World Sports Exchange (also known as WSEX) was an online bookmaker offering sportsbook gambling odds and sportsbook wagering lines including, football lines, basketball odds, baseball parlays, hockey odds, and horse racing track odds. Established in ...

(WSEX), an

online gambling Online gambling is any kind of gambling conducted on the internet. This includes virtual poker, casinos and sports betting. The first online gambling venue opened to the general public was ticketing for the Liechtenstein International Lottery in ...

company.

Biography

Cohen was raised on

Long Island Long Island is a densely populated island in the southeastern region of the U.S. state of New York (state), New York, part of the New York metropolitan area. With over 8 million people, Long Island is the most populous island in the United Sta ...

. He is

Jewish Jews ( he, יְהוּדִים, , ) or Jewish people are an ethnoreligious group and nation originating from the Israelites Israelite origins and kingdom: "The first act in the long drama of Jewish history is the age of the Israelites""The ...

. He graduated from

U.C. Berkeley The University of California, Berkeley (UC Berkeley, Berkeley, Cal, or California) is a public land-grant research university in Berkeley, California. Established in 1868 as the University of California, it is the state's first land-grant univ ...

with a degree in nuclear engineering. He worked as

options trader In finance, an option is a contract which conveys to its owner, the ''holder'', the right, but not the obligation, to buy or sell a specific quantity of an underlying asset or instrument at a specified strike price on or before a specified dat ...

San Francisco San Francisco (; Spanish language, Spanish for "Francis of Assisi, Saint Francis"), officially the City and County of San Francisco, is the commercial, financial, and cultural center of Northern California. The city proper is the List of Ca ...

until 1996, when he moved to

Antigua Antigua ( ), also known as Waladli or Wadadli by the native population, is an island in the Lesser Antilles. It is one of the Leeward Islands in the Caribbean region and the main island of the country of Antigua and Barbuda. Antigua and Bar ...

and opened the online gambling company

(WSEX). In 1998, attorney General

Janet Reno Janet Wood Reno (July 21, 1938 – November 7, 2016) was an American lawyer who served as the 78th United States attorney general. She held the position from 1993 to 2001, making her the second-longest serving attorney general, behind only Wi ...

charged him with violating the

Federal Wire Act The Interstate Wire Act of 1961, often called the Federal Wire Act, is a United States federal law prohibiting the operation of certain types of betting businesses in the United States. It begins with the text: Several legal opinions and rulings ...

. Although Cohen was operating out of a jurisdiction where gambling was legal, his US customers used phone lines and the internet to place bets. On July 24, 2000, Cohen was the first United States citizen to be convicted in US Federal Court for violation of the

for operating an online gambling company from a jurisdiction where it was legal and regulated (Antigua). He was sentenced to twenty-one months in prison and served his time at Nellis prison camp, 25 miles north of

Las Vegas Las Vegas (; Spanish for "The Meadows"), often known simply as Vegas, is the 25th-most populous city in the United States, the most populous city in the state of Nevada, and the county seat of Clark County. The city anchors the Las Vegas ...

. Cohen's case was appealed to the

United States Supreme Court The Supreme Court of the United States (SCOTUS) is the highest court in the federal judiciary of the United States. It has ultimate appellate jurisdiction over all U.S. federal court cases, and over state court cases that involve a point o ...

, but it refused to hear the appeal. He was released in March 2004.

References

1968 births Living people American casino industry businesspeople American computer criminals American Jews UC Berkeley College of Engineering alumni American chief executives {{gambling-stub

Biography

See also

References