Nicholas Cosmo

Who is Nicholas Cosmo?

Nicholas Cosmo 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.It has been reported that his crimes represent the 8th largest financial fraud in history, since the first documented flimflam in 1719 involving Scotsman John Law.