Promoter Greg Cohen has at least one legal wrangle to sort out before he heads to federal prison.
Clifford Mass, a former employee of Cohen’s promotional company, is seeking more than $1.5 million in damages from Cohen for breach of contract, unpaid wages, breach of fiduciary duties, misrepresentation and fraud over an investment agreement that has not been fulfilled. The suit was filed in the U.S. District Court of the Southern District of New York on Jan. 31 of last year. The parties are expected to settle at a conference scheduled for Dec. 4.
Cohen was sentenced last week to six months in federal prison for wire fraud unrelated to boxing. He had 60 days to turn himself in.
According to Mass’ complaint, in March 2015 he invested $250,000 in Greg Cohen Promotions for a 5 percent financial stake. The arrangement called for Mass to “receive a 25 percent preferred return of the Promotional Profits until (he) received his $250,000.00 investment back” in addition to receiving “5 percent of the Promotional Profits in perpetuity.” Promotional profits are defined as revenue generated from not only GCP-promoted events, but also cases in which GCP fighters participated in events organized by other promoters. Cohen’s best known fighter is heavyweight contender Jarrell Miller (co-promoted by Dmitry Salita), who received a six-month ban in New York after testing positive for PEDs ahead of his projected fight against Anthony Joshua last summer.
Mass was employed by GCP from April 2015 to February 2018, or up until he filed his claim. His official title at GCP was Vice President of Business Development. According to the complaint, Mass was described at one point on the GCP website as “Right-hand man to Greg Cohen. … He works closely with Greg in talent acquisition, relationship management, strategic planning and various day-to-day aspects of the business.”
Mass claims that ever since he entered into the investment agreement, he has not received his cut from more than 40 GCP events and others staged by outside promoters, which include, but are not limited to, the following:
July 29, 2017 bout featuring Jarrell Miller
Nov. 11, 2017 bout featuring Jarrell Miller
Dec. 19, 2016 bout featuring Mason Menard
April 8, 2016 bout featuring Eric Hunter
March 5, 2016 bout featuring Antoine Douglas
Dec. 5, 2014 bout featuring Dennis Hogan
April 15, 2014 featuring Tony Louis
Mass is also looking to recover $14,000 he says he loaned to Cohen in January 2016. Mass says Cohen “demanded” the loan and that it would be repaid in two months. Mass arranged to wire the loan out of “concern for retribution.”
The lawsuit comes to light as Cohen stares down a six-month prison sentence for wire fraud after accepting $200,000 from an unnamed party for an investment that was never made.