Cosmo is under investigation for a massive investment fraud involving his investment and loan company Agape World.
This was posted Aug. 4, 2008 @ 6:34p on a FatWallet bargain site forum where his Agape World company was under attack by forum contributors as a scam and a ponzi scheme. The forum started November 12, 2007 with the question, "Has anyone invested with Agape World Inc?"
It's a fascinating forum discussion to read, but I do not consider it much of a credible source of information. Curiously, a contributor, claiming to be Cosmo himself, posted this alleged autobiographical information:
I am Nicholas J. Cosmo. I am 37 years old and was raised in Wantagh, NY. I have been the President of Agape World Inc. since 2000. I have watched my company grow to over 5,000 investors. Today I would like to address this unauthorized blog from former and current Agape clients. I did commit a felony when I was associated with a firm called Continental Broker Dealer. My NASD license was suspended but not revoked due to my cooperation with the investigation into my former employer. I take full responsibility for my actions then and now. My debt to society and the 8 clients affected has been paid back by a fine and jail time. Today, I owe no apologies to anyone for my actions which occured over 12 years ago. I have paid for my mistakes in my life and over a decade ago, I lost everything I had. This included my fiancee and an early part of my sons life, but never my family or my true friends. The incredible success of Agape World Inc. over the last 12 years since my mistake has given me the opportunity to give back ten fold, to my business ventures, my community involvements and through charitable contributions and events. I invite any client, be that current, former or future, to come to my office, sit down with me face to face to address any questions they might have with my morals or my ethics.
I am truly Nicholas Joseph Cosmo...
I am the PROUD President of Agape World Inc. - a legitimate hard money asset based lender...I can firmly state that any non-believer will not be able to find ONE Agape World Inc. client that has not been paid back their investment plus interest over the last decade. NOT ONE!
Thank you and GOD BLESS!!!!!!!!