Head of Long Island Investment Firm Arrested For Alleged Mail Fraud
The Department of Justice has announced today that Nicholas Cosmo -who is the owner and president of Agape World, Inc. and Agape Merchant Advance, LLC-, has been arrested by federal agents on charges of mail fraud. Cosmo – like Bernard Madoff- is accused of running a classic Ponzi scheme. Anyone who believes that they have been a victim of the alleged Ponzi scheme is asked to provide the FBI with their full name, address, telephone number and copies –not originals-of any documents that substantiate their loss. The information should be mailed to: FBI New York, Attn: Victim Assistant Program, 26 Federal Plaza, 24th Floor, New York, New York, 10278. The FBI has also set up a hotline number with a message containing detailed instructions. The number is 212- 384-2166. Cosmo has been merely accused of mail fraud and is presumed innocent unless and until proven guilty in a court of law.
