Nicholas Cosmo (born 1971) is an American former businessman and white collar criminal. He was arrested January 26, 2009 on charges of an estimated $370–413 million Ponzi scheme. Cosmo 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, 2009 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.
On October 14, 2011, Cosmo was sentenced to 25 years in prison.
Read more about Nicholas Cosmo: Agape World, Cosmo Post Bail, Judge Revokes Cosmo’s Bail, Cosmo Pleads Guilty To $413 Million Ponzi Scheme, SEC Charges 14 Agape World Ponzi Scheme Brokers
Famous quotes containing the word nicholas:
“Chanuka and St. Nicholas Day came almost together this year—just one day’s difference. We didn’t make much fuss about Chanuka: we just gave each other a few little presents and then we had the candles. Because of the shortage of candles we only had them alight for ten minutes, but it is all right as long as you have the song.”
—Anne Frank (1929–1945)