Accused Associates Of Nicholas Cosmo, Long Island's 'Mini-Madoff,' Arrested Four associates of a New York businessman convicted in a $400 million Ponzi scheme were arrested early Wednesday on charges that they pocketed nearly $38 million in commissions for their efforts in advancing the fraud, federal prosecutors said.
L.I. Businessman Dubbed 'Mini-Madoff' Gets 25 YearsNicholas Cosmo also was ordered to pay $179 million in restitution with money he doesn't have.
L.I. Businessman Admits $413M Ponzi Scheme