New York 'Mini-Madoff' Busted

New York police have busted a financier accused of running a Ponzi scheme, Reuters reports. Nick Cosmo—sentenced to 21 months on swindling charges in 1999—may have bilked investors of up to $380 million through his firm Agape World, which claimed to make high-interest bridge loans, according to authorities. Police had to escort Cosmo from his Long Island office last week to protect him from a mob of violent investors.
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