Victim's Of Long Island Ponzi Scheme Not Out Of The Woods YetVictims 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.
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.
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
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.