SAN JOSE, CA — Stephen Michael Cohen, the man who hijacked Sex.com from its then rightful owner Gary Kremen, filed paperwork with the court on Monday stating that he owns no valuable assets and that he is completely destitute at this time.In light of his purported pennilessness, Cohen is asking U.S. District Court Judge James Ware to set aside the $65 million judgment that has been entered against him, according to reports in the Associated Press (AP).
Cohen also claimed that the court intentionally misplaced documents Cohen filed that detailed his financial problems. Cohen also said he’s contacted the FBI in hopes of recovering the lost records.
Judge Ware ordered Cohen to cooperate with Kremen’s attorneys, who intend to question Cohen this week in furtherance of uncovering secret bank accounts or some other manner of valuable property.
Cohen contends, however, that no such assets exist. Representing himself in court on Monday, Cohen claimed that even his heart medication is worth less than $250, the court-set minimum for assets that Cohen must surrender.
Cohen claimed that he has no money in any bank accounts, and an account he has with a Mexican bank currently sports a balance of negative 90 pesos.
“I have been unable to locate my personal property and it is my belief that all my personal property was either stolen or trashed by unknown persons,” Cohen wrote in a status report, according to the AP.
“I own no stocks, bonds, securities, jewelry and I have no trusts, real estate and or insurance of any kind,” Cohen added in the status report.
Richard J. Idell, an attorney representing Kremen in the case, said the only asset that Cohen had surrendered so far was a “modest house” in San Diego, which had been emptied of all its furniture and plumbing prior to Kremen taking possession of the property.
Idell told the AP that while his client doesn’t expect to recover the full $65 million, the case set precedent and helped to develop law for the digital age.
Despite his claim of poverty, Cohen indicated that he would continue to fight the judgment against him, vowing that “we’re far from ending this case.”
The idea of the case carrying on, however, appears to be anything but music to Judge Ware’s ears.
“One of my desires since I became a judge is not to have this case until I retire,” Ware said Monday.
