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Nicholas Cosmo

A newly disclosed Ponzi scheme may cost investors 380 million dollars

January 27, 2009 - 7:10am | Fraud | News
A newly disclosed Ponzi scheme may cost investors 380 million dollars

One more Ponzi scheme has been discovered by the US authorities. 37-year old Nicholas Cosmo, CEO of Agape World Inc., has turned himself in late Monday after FBI and US Postal Inspection Service officials raided the financing firm's Long Island, New York headquarters. According to Nicholas Cosmo his investment firm has defrauded about 1500 investors and stolen about 380 million dollars (288 million euros).
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Agape World Inc. | Bernard Madoff | Nicholas Cosmo | Ponzi scheme
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