It Is Possible to Sell Your Internet Company for $70 Million and Still End Up a Drug Dealer

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Photo: NICOLAS ASFOURI/2011 AFP

At the very peak of the dot-com bubble, then-28-year-old Jennifer Sultan and her boyfriend Adam Cohen sold their web-streaming company, Live On Line, for a cool $70 million —  not Facebook billions, but still a respectable Internet fortune. Yesterday, however, a now-bankrupt Sultan was arraigned in Manhattan court for running a high-volume drug business just to make ends meet. (Her co-defendants include a prominent Queens heroin and guns dealer, his 64-year-old downstairs neighbor, and a carnival worker turned corrupt NYPD officer.) It's not clear where the Internet money went — the New York Post reported only that Sultan and Cohen "lived lavishly" in a $6 million Flatiron penthouse and once had a $400,000-a-season Hamptons rental — but we would really, really like to know.