This is the American Greed podcast presented by CNBC.

I'm Stacey Keach.

In this episode of American Greed,

bars, nightclubs, strip clubs, and big-name acts

turn to insurance executive Jeffrey Cohen

for the financial protection they need when crowds and booze mix.

It's the what-ifs. That's what insurance is for, the what-ifs.

With customers from coast to coast, Cohen's company brings in more than $100 million, and he lives large.

He had a Porsche, he had a Bentley, and Aston Martin close to $200,000.

But prosecutors say it's all a facade.

Unexpectedly, we were notified by Jeff's companies that I was not on the policy.

According to the government, Cohen uses a mountain of fake documents to make it appear his company

has the cash it needs to provide the help he's promised.

One of the things that was unique about this case was the number of different false

representations that were involved.

And when the feds close in, they say they're surprised by what they see. He did have a quality that most other fraud defendants don't have.

And by what they hear.

Because most other fraud defendants don't do what he did. It's the afternoon of June 20th, 2014.

A former insurance executive named Jeffrey Cohen heads north in his white Lexus SUV. Not long

ago, a judge in Delaware ordered the liquidation of Indemnity Insurance Corporation, or IIC.

The company Cohen says he built with his own blood, sweat, and tears.

A friend will later testify that Cohen has seemed off,

...