27 January 2009
Is Agape World Nicholas Cosmo fraud an another Ponzi scheme like Madoff? Should he go to prison!
Nicholas Cosmo, founder of Agape World Inc in Hauppauge, New York, complied on Monday evening with a warrant for his arrest on suspicion of conducting an alleged $380 million Ponzi scheme. He was also charged with one count of mail fraud. What if he do...
16 December 2008
A full report on Bernard L. Madoff Investment Securities Ponzi scheme: GREED and STUPIDITY!
I agree and I call it GREED and STUPIDITY… who in the hell in their right imnd thinks that a money manager can return 8% to 12% per year…even when the market goes to hell in a handbasket…even in the era of 1974…come on!!! I reca...
15 December 2008
Reason behind $50B Bernard Madoff's Ponzi Scheme!
A Ponzi Scheme is fairly simple to understand. There are no underlying assets. Instead, the investment from new investors is used to pay off old investors. This could also be the final nail in the coffin in the hedge fund “industry” as anyo...
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