Nicholas Cosmo - Agape World Conman,Thief and Gambler

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Investors in Agape Merchant Advance(AMA) and Agape World were led to believe that their money was going to be loaned to a consortium of merchants that had agreed to pledge its future credit card sales to AMA.In this scheme, investors were promised a rate of return of 4% per month if they were willing to commit their funds for a period of two years. However, despite Cosmo’s representations to the investors, and the representations made to the investors by his brokers, Cosmo did not loan all of the incoming money to outside commercial entites. Instead, Cosmo misappropriated more than $130 million by converting investor funds to personal use and by paying exhorbitant commissions to his network of brokers. The moral to this story…If the reward is high, there is risk; and while the saying is as old as time, “if it sounds to good to be true, it probably is.”

By Donna Harris 12/03/2015 03:31 PM

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