Nicholas Cosmo

FILE - Nicholas Cosmo (right) (credit: CBS 2)

Victim’s Of Long Island Ponzi Scheme Not Out Of The Woods Yet

Victims of a Long Island ponzi-schemer said that they have already paid enough, some of them were bilked out of hundreds of thousands of dollars by Nick Cosmo. Now Cosmo’s victims could be on the hook for even more money.


FILE - Nicholas Cosmo (right) (credit: CBS 2)

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.


Ellen Gabriel told her story Wednesday to CBS 2's Jennifer McLogan. (credit: CBS 2)

EXCLUSIVE: L.I. Victim Of ‘Mini-Madoff’ Swindle Speaks Out About Plight

Ellen Gabriel, of East Yaphank, is now working three jobs in salons to just get by after her life was upended by Nicholas Cosmo, who ripped off 4,000 innocent victims


FILE - Nicholas Cosmo (right) (credit: CBS 2)

L.I. Businessman Dubbed ‘Mini-Madoff’ Gets 25 Years

Nicholas Cosmo also was ordered to pay $179 million in restitution with money he doesn’t have.


L.I. Businessman Admits $413M Ponzi Scheme

CENTRAL ISLIP, N.Y. (AP/WCBS 880) — A New York businessman has pleaded guilty to charges he orchestrated a $413 million Ponzi scheme that victimized thousands of clients. Nicholas Cosmo pleaded guilty to mail and wire […]