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Thursday, January 29, 2009
Cosmo Ponzi Scheme Took in $370 Million, U.S. Says
Jan. 27 (Bloomberg) -- Nicholas Cosmo, founder of Agape World Inc. in Hauppauge, New York, swindled investors out of more than $370 million and used the money to pay for limousines, fund a baseball league and pay off a restitution order from an earlier fraud, U.S. authorities said.
