Nicholas Cosmo

Template:Current court case Nicholas Cosmo (born 1971) is a financier who was arrested January 26, 2009 on charges of an estimated $370-400 million Ponzi scheme. Cosmo is alleged to have conducted the scheme using his company Agape World Inc. in Hauppauge, New York, which claimed to make its profits via commercial bridge lending. Authorities arrested him in Hicksville, New York.

Cosmo was arraigned in Islip, New York on January 27 on charges of mail fraud. Cosmo had previously been convicted of felony fraud in 1999, and had served his sentence of 21 months in prison for the offense.

Although this case has been compared to the Ponzi schemes of Bernard Madoff ($50 billion) and Arthur Nadel ($350 million), authorities do not believe Cosmo has any relation to these other cases.

See Also

• Marc Dreier
• Bernard Madoff
• Arthur Nadel
• Marcus Schrenker

External Link

• Website of Agape World Inc. (alive as of January 30, 2009)
• Summary of Articles and Videos at New York Newsday (January 27, 2009)
• "Another Ponzi Scheme? Feds Arrest Money Manager Cosmo", Time (January 27, 2009)
• "Troubled Times Bring Mini-Madoffs to Light", The New York Times (January 28, 2009)

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