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by Mike Caswell

A federal judge in New York has entered $15.3-million restitution orders against two men jailed for a boiler room that defrauded seniors and other investors in Intelligent Content Enterprises Inc., a former Canadian Securities Exchange listing. (All figures are in U.S. dollars.) The judge has ordered that Emin Cohen and Dennis Verderosa, who received jail terms of two years and six years, pay restitution jointly with each other and other defendants in the case. The men were part of what prosecutors deemed a "predatory" telemarketing scheme.

The restitution orders come with both men having completed their jail terms for the fraud. Mr. Verderosa, referred to by prosecutors as a "slick, pernicious, and successful Boiler Room Account Executive," was released on Jan. 18, 2024. Mr. Cohen was released on Feb. 27, 2023. (The judge added an additional six months to Mr. Cohen's sentence after he refused to meet with his probation officer or even speak with her.)

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