Bloomberg News

Nicholas Cosmo Gets 25 Year Term in $413 Million Ponzi Scheme

October 14, 2011

Oct. 14 (Bloomberg) -- Nicholas Cosmo, who pleaded guilty to running a $413 million Ponzi scheme that defrauded thousands of investors, was sentenced to 25 years in prison in federal court in Central Islip, New York, prosecutors said.

To contact the reporter on this story: Thom Weidlich in New York at tweidlich@bloomberg.net

To contact the editor responsible for this story: David E. Rovella at drovella@bloomberg.net


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