Agape World, Inc. was Ponzi Scheme
January 27, 2009
Another couple of dozen people lost everything:
A New York businessman sought by federal authorities in connection with a suspected $380 million Ponzi scheme has been arrested and charged with one count of mail fraud.
The businessman, Nicholas Cosmo, founder of Agape World in Hauppauge, surrendered at the Long Island Rail Road train station in Hicksville, N.Y.
He was taken in handcuffs to the United States Postal Inspection Service in Hicksville Monday night.