Saturday, January 24, 2009

BERNIE MADOFF UPDATE

TODAYS UPDATE!

http://www.nypost.com/seven/01292009/news/regionalnews/madoff__im_weakened_at_bernies_152557.htm

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'Mini-Madoff' Accused of $400M Ponzi Scheme Surrenders

HICKSVILLE, New York — The FBI says the owner of a Long Island investment firm has turned himself in to face accusations he cheated clients out of more than $100 million.

FBI spokesman Jim Margolin says Nicholas Cosmo surrendered on Monday night.

Cosmo runs Agape World Inc. in Hauppauge. He's accused of taking in $300 million from investors and cheating them out of about $140 million.

A letter hanging in Cosmo's office window denies there was any pyramid scheme, the type of fraud Bernard Madoff is accused of committing. A Ponzi, or pyramid, scheme promises unusually high returns and pays early investors with money from later investors.

Cosmo is expected to appear in court Tuesday.

Defense attorneys at the Herrick Feinstein law firm haven't returned telephone calls seeking comment.


1 comment:

  1. MADOFF + STANFORD = PROSKAUER ROSE
    Did I hear Proskauer Rose is involved in Madoff (involved many clients too) and acted as Allen Stanford's attorney. Investors who lost money in these scams should start looking at the law firm Proskauer's assets for recovery. First, Proskauer partner Gregg Mashberg claims Madoff is a financial 9/11 for their clients. Then, Proskauer partner Thomas Sjoblom former enforcement dude for SEC and Allen Stanford attorney, declares PARTY IS OVER to Stanford employees and advises them to PRAY, this two days before SEC hearings. Then at hearings he lies with Holt to SEC saying she only prepared with him but fails to mention Miami meeting at airport hanger. Then Sjoblom resigns after SEC begins investigation and sends note to SEC disaffirming all statements made by he and Proskauer, his butt on fire.

    Proskauer Rose and Foley and Lardner are also in a TRILLION dollar FEDERAL LAWSUIT legally related to a WHISTLEBLOWER CASE also in FEDERAL COURT. Marc S. Dreier is also a defendant in the Federal Case.

    The Trillion Dollar suit according to judge Shira Scheindlin is one of PATENT THEFT, MURDER AND A CAR BOMBING. For graphics on the car bombing visit www.iviewit.tv.

    The Federal Court cases

    United States Court of Appeals for the Second Circuit Docket 08-4873-cv - Bernstein, et al. v Appellate Division First Department Disciplinary Committee, et al. - TRILLION DOLLAR LAWSUIT

    Cases @ US District Court - Southern District NY

    (07cv09599) Anderson v The State of New York, et al. - WHISTLEBLOWER LAWSUIT

    (07cv11196) Bernstein, et al. v Appellate Division First Department Disciplinary Committee, et al.

    (07cv11612) Esposito v The State of New York, et al.,

    (08cv00526) Capogrosso v New York State Commission on Judicial Conduct, et al.,

    (08cv02391) McKeown v The State of New York, et al.,

    (08cv02852) Galison v The State of New York, et al.,

    (08cv03305) Carvel v The State of New York, et al., and,

    (08cv4053) Gizella Weisshaus v The State of New York, et al.

    (08cv4438) Suzanne McCormick v The State of New York, et al.

    ReplyDelete