Friday, April 17, 2009

Cosmo fraud amounts increase

According to Bloomberg, Nicholas Cosmo swindled investors out of more money than originally believed. Up from $370 million, investigators found out that he defrauded investors around the world from $413 million. Investors came from many countries such as Hong Kong, Germany and Brazil. He has been in jail since January 26, when he was arrested on federal mail charges.

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