Friday, February 27, 2009
by David Winzelberg
Published: February 26, 2009
Giftcards to Woodbury restaurant Speranza
It seems alleged scammer Nick Cosmo was quite a generous gift card giver.
The Agape World owner gave thousands of dollars in gift cards for a Woodbury restaurant to clients whose investments in Agape were allegedly used to fund the opening of the eatery.
Richard Ottimo, a partner in Speranza Food Studio on Jericho Turnpike, said Thursday that all Agape World gift cards would be honored as soon as he figures out how to limit customers from spending them all at once.
Ottimo surmised that Agape gift card holders would probably be limited to $250 or so per month.
“I apologize for everything,” Ottimo said, according to one investor.
The cards range in value from $500 to several thousand dollars. One investor has a $5,000 gift card to Speranza and he said he will be making several trips to the just-opened restaurant.
If convicted of the alleged $370 million Ponzi scheme, Cosmo will be sent to federal prison for a second time. He previously did time in Allenwood Federal Correctional Complex in 1999 for securities fraud.
Restaurateur Ottimo just got out of federal prison himself last March for defrauding the U.S. Department of Defense in a scheme to over-bill contractor Northrop Grumman in Bethpage.
Thursday, February 26, 2009
then look at "files" section
Cyganowski served for 14 years, from 1993 to 2007, as a United StatesBankruptcy Judge for the Eastern District of New York.
During her last two years at the court she was the Chief Judge.
One of the Agape Investors who has asked to be "nameless" at this time has spoken to the Former Chief Judge... ABOUT MARK MULHOLLANDS LEGAL ADVICE.
She commended him for his integrity and ethics.
She also added that Interim Trustee "SILVERMAN" is an aggressive and solid Attorney.
HE WILL BE THE VOICE FOR THE INVESTORS and that at this point she would concur that hiring other attorneys might be unwarranted and wasteful spending unless the arrangement is pure contigency with no hidden fees.
February 25, 2009
The purpose of the meeting was to give us a status report regarding the bankruptcy proceeding.
2/5/09, Mulholland filed petition on behalf of five Agape victims who have retained him in order to ignite the process of forcing bankruptcy and freezing assets.
Bankruptcy was filed and on 2/12/09 and the judge immediately appointed an Interim Trustee (Kenneth Silverman, Esq). Subsequently, the court granted an emergency application to stop Nick Cosmo and Agape from disposing of assets.
in the days that followed, Nicholas Cosmo’s indictment was postponed to 3/13/09 to give his recently aquired counselor time to prepare to defend him.
Plea negotiations with prosecutors are alleged to be ongoing, however both side have denied any such discussions.
Cosmo is currently facing mail fraud charges but other charges are expected to be formalized before 3/13/09.
It is presumed that the strategy may be to keep adding charges and the probability of more jail time to entice Cosmo to divulge the location of additional assets.
The court now:
Empowered Trustee to collect assets.
Directed Trustee to prepare list of creditors and provide notice of bankruptcy to them.
Scheduled 3/12/09 hearing to appoint Interim Trustee as the Permanent Trustee.
The Trustee is Kenneth Silverman, Esq. and he will probably be appointed permanent Trustee. He is already working on the case. His duties are:
Operate Agape business-defunct
Investigate Agape financial affairs (where did the money come from and where did it go)
Collect and preserve assets.
He will commence suits to recover Agape assets and convert the assets to money.
(by selling, auctioning, etc)
He will examine claims submitted by investors and other creditors.
He will notify public of deadlines for filing and important dates.
Kenneth Silverman has the reputation of being a bankruptcy “heavy weight”. His fee is paid 2-3% of the restitution. The fee is capped at 3% by statute.
Steps Taken by Kenneth Silverman so far:
Established contact procedure-compiling a list of investors.
Requested appointment of official auctioneer (David R. Maltz & Co.) to liquidate assets
Issued subpoenas to the following: The list keeps growing…
Bank of America
Alaron Futures & Options
Sawmill Development Corp
Levittown Wantagh Baseball
Status of Agape Funds
$380,000,000. deposits by investors
$ 80,000,000. lost in commodities trading
$ 55,000,000. paid in commissions to brokers
$ 15,500,000. actual bridge loans invested in
$ 1,000,000. Woodbury Sperenza Food Studio
$ 746,000. on deposit in Agape accounts (cash)
$ 300,000. invested in baseball league
Potential Sources of Recovery:
Nick Cosmo personal assets (Levittown home, Hauppauge commercial bldg., offshore accounts)
Brokers: case by case analysis as necessary
see newsday articles:
Banks: Bank of America, Citibank: Trustee now has records. Is there negligence? “reckless disregard”? To be investigated.
CTFC-Commodity Futures Trading Commission: Cosmo was not supposed to be trading because he was not registered or licensed. If the CTFC gets fined, the proceeds will probably be moved to the creditors.
Accountants who may have helped perpetuate the fraud.
IF YOU KNOW ANY BROKER WHO IS LIQUIDATING HIS ASSETS…SELLING A HOUSE, ETC. LET THE TRUSTEE KNOW IMMEDIATELY.
Proof of Claim Procedure:
If you have not already done so, send the trustee your information.
Kenneth Silverman, Esq. 516-479-6300
Your best bet when you call is to ask for Rachael Dioguarde or David Mahoney.
They will be easier to reach
From this list, Kenneth Silverman will send investors and other creditors “proof of claim” forms. It will be a simple written statement of creditors claim and should be received by us shortly. The trustee will issue instructions of how much information should be put on the form (name, address, phone, amount of loss, etc.).
Claw Back: the law states that “no one should profit from a Ponzi scheme” and therefore, if you have received profits, according to the law it is possible for the govt to take back, or claw those profits. HOWEVER, in this instance, bridge loans were rolled over and then lost and it is highly unlikely that the claw back law will play a role. In addition 1) you had to have knowledge or suspect that there was fraud and continue to invest for it to apply and 2) it only applies to NET loss.
For example if you invested $200,000 and took out $100,000 plus profits, you would still have a net loss and therefore the claw back would not apply. Your “net loss” is the amount that also goes on the creditor’s claim form.
Mark Mulholland has been told that Nick Cosmo was in Zurich in November or December. The trustee has that information to investigate. If anyone has any knowledge of that, please contact the Trustee.
There is a “stay” in place that will prohibit any attorney from instituting suit against Agape other than the Trustee. If any attorney brings a suit, the trustee will evaluate it and if it has merit, he will either ask the attorney to withdraw it and the Trustee will do it himself or allow him to do it but the proceeds becomes part of the whole and as creditors, we would benefit from it with or without an attorney representing us.
Therefore, it is not in anyone’s best interest to hire an attorney.
We need to follow the Trustees lead. He was appointed by a Judge but also has the motivation to collect as much as he can recover because his fee is based on the recovery amount. In addition, without an attorney we have the same rights of recovery and do not have additional legal and disbursement fees to contend with.
What we need to do:
Stay in touch with the case so that we are informed. Call the trustee from time to time to check on status, use the internet, follow the case in the news and be as up to date with developments as you can be. There is a possibility that the Trustee will have a web site shortly and we will need to find out if he does. Mark Mulholland gave a very informative presentation and we thank him for being so gracious and generous with his time and efforts on our behalf. There is a possibility that he may do another seminar if there are any new developments in the future.
Wednesday, February 25, 2009
Posted by Dom DiColandrea at 6:11 AM 0 comments
Tuesday, February 24, 2009
He is also scheduled to "speak to" the Trustee or receiver on friday. Ultimately, I "think" Mr Zamansky wants to find out "who" the trustee is going after and how.
We explained to Mr Zamansky that we would need to see a "proposal" from his firm in the next two weeks before we made a decision to retain him or look for other counsel.
I also spoke to Thomas Valery of "resolutions". He too is scheduled to meet with or speak to the "trustee". He too wants to find out "who" the trustee is going after and how.
"Resolutions" have been very helpful in passing along information to our group from the begining with no agreement in place. I think highly of them.
Finally and most exciting, One of our fellow agape brothers - Keith M, has brought to our attention a group of "agape investors" that have already gathered some steam outside of our group.
According to my contact "Marilyn", they are 500 persons with over 40 million in net losses.
Our group (managers) are making plans to meet with their group and coordinate a merging of the two.
Strength in numbers !
I'm going to have to start asking you all to get ready to put together a more comprehensive contact package for us to submit to the attorneys that we eventually hire.
It will very likely be a name, address and net loss questionarre.
We'll be preparing a quick contact info sheet and post it to the "yahoo group" site for you to fill out.
It seems, this other group may have already started a class action suit. I'm looking into it and will keep you posted.
Friday, February 20, 2009
A special thank you to the “Lindenhurst Village Mayer Thomas Brennan” for use of the Rainbow Center.
Mr. Zamansky highlighted his background and experience in similar legal matters such as ours, with a strong emphasis on one or more particular “third party defendants” .
In his question and answer session, he promised to present the group a proposal that would outline his contingency fee and a minimal “end of case - not before or during” budget for outside expenses (this was not pertaining to his firms hourly rates - he is not charging us hourly rates). He was kind enough to suggest that he would very likely advance these fees so as not to cause the group anymore financial difficulty.
I personally, and hope that you would all agree, would “wait and see” the proposal before asking questions and/or making any assumptions as to “what these fees might be”.
If you don’t like the written proposal when it comes, you can opt to look for another firm, ask to negotiate the proposal or simply chose not to be represented at all.
My understanding of where this case goes is dependant on the “evidence” of collusion or negligence on the part of the third parties.
It’s been suggested that should any of the group have any names of anyone that might have information about how “agape” was run - from sub brokers, to brokers, to office policy, to management, or any back end policies to move deposits and or returns to and from investors through banks or commodity brokers, they should contact Mr. Zamanskys office.
I would suggest you ask for “Amber” as she seems to be running the "details and data" part of the investigation for Mr. Zamansky.
Thursday, February 19, 2009
Mr. Mulholland and I have had several phone conversations and e-mails in regard to his addressing our group concerning legal representation.
At this juncture Mr. Mulholland is of the opinion that there is no need for us to hire an attorney. He has explained that “the Interim Trustee has been appointed to administer the affairs of the Estate of Agape in the best interest of all of the victims. Everyone needs to be patient as the bankruptcy process unfolds, pending issuance of instructions from the Trustee”.
He has, however, stated that he realizes that this is a difficult time for us and has graciously offered to donate both his time and space to meet with us privately for the purpose of explaining the bankruptcy process. He is proposing an hour meeting at his office where he will give us a brief outline of the status of the bankruptcy proceeding followed by a question and answer period.
The proposed private briefing is scheduled for Wednesday, February 25th , 6:30pm at the office of Ruskin Moskou Falticheck, EAB Plaza, Uniondale. The press and general public will not be invited. The law firm’s conference room is not able to accommodate all of the involved investors as SPACE IS LIMITED. Therefore, we can only accommodate the first 40 people who respond with their e-mail address. Once we have the addresses, we will forward them to Ruskin Moscou and they will send you the invitation. Also, once we have the list of attendees, we will ask someone to take notes and report back to the group. Because of space limitations and logistics, persons not on the attendance list will not be permitted to attend. This is not a meeting that is open to the public.
If you are interested in attending, please send your e-mail address to me at:
proofs (copies of contracts, canceled checks, correspondence, Account Executive name)
Federal Bureau of Investigation phone: 212-384-2166
Victim Assistance Program
26 Federal Plaza
New York, New York 10278
Postal Inspector Cinnamo for UPS overight mail:
P.O. Box 160 185 West John Street
Hicksville, New York 11802-0160 fax # 516-681-3402
Trustee: Kenneth Siverman, Esq. phone: 516-479-6323
Send information to his atty: fax: 516-945-6323
Ronald Friedman, Esq.
Silverman Acampora LLP
100 Jericho Quadrangle
Jericho, New York 11753
Wednesday, February 18, 2009
A 2004 Examination allows the trustee to examine and inspect documents related to Agape and Cosmo. Please see attached order in that regard.
Order Granting Motion for 2004 Examination and Production of Documents of MF Global Inc.(Related Doc # 21 ) Signed on 2/17/2009. (sap) (Entered: 02/17/2009)
Order Granting Motion for 2004 Examination and Production of Documents of Alaron Futures & Options. (Related Doc # 22 ) Signed on 2/17/2009. (sap) (Entered: 02/17/2009)
Order Granting Motion for 2004 Examination and Production of Document of Millennium Trust Company. (Related Doc # 23 ) Signed on 2/17/2009. (sap) (Entered: 02/17/2009)
Order Granting Motion for 2004 Examination and Production of Documents of TransAct Futures. (Related Doc # 24 ) Signed on 2/17/2009. (sap) (Entered: 02/17/2009)
Resolutions Investigation & Risk Management, Inc.
675 Old Country Road
Westbury, NY 11590
Tel: 516 280-4714
Cell: 516 343-9693
Fax: 516 997-3278
Tuesday, February 17, 2009
I (michael canale) decided to call Kenneth Silverman's office as Mark S. Mulhollad suggested to Dom.
I asked for Kenneth and told them it was in reference to the Agape case.
I spoke to a very nice woman namedRachel Dioguardi.
she asked for my name, address and phone number.
She said she is collecting information to add to the list of creditors.
she also asked for all my documentation to be sent to her.
She said all of our names and the amounts would be passed over the bankruptcy court and they will contact us when its settled and ask for proof of liability.
Here is her contact info:
Rachael E. Dioguardi [mailto:RDioguardi@silvermanacampora.com]
Sent: Tuesday, February 17, 2009 4:27 PMTo: Michael CanaleCc: Deanna SymbourasSubject: Agape World, Inc.
Mr. Canale, As you are aware, we represent Kenneth P. Silverman, Esq., theinterim chapter 7 trustee of the Agape World, Inc. bankruptcy estate.
As we discussed, please send any documents in connection with yourinvestments (including any canceled checks or wire transferauthorizations) with Agape World, Inc., to my attention at the address below.
If you have any questions, please call me.
Thank you. ______________________________________
Rachael E. Dioguardi
Silverman Acampora LLP
100 Jericho Quadrangle, Suite 300
Jericho, New York 11753
Direct Facsimile: 516.945.6323
Monday, February 16, 2009
Fx: (516) 663-6728
He also suggested that we contact the Trustee appointed in the bankruptcy matter.
Mr Mulholland is the attorney responsible for applying for and winning a motion for an "interim trustee" in the agape bankruptcy proceeding.
Attorney Mark S. Mulholland Wins Motion for Appointment of Interim Trustee
Uniondale, Long Island, New York, February 12, 2009 - Ruskin Moscou Faltischek, P.C. announced today that Judge Dorothy Eisenberg of the United States Bankruptcy Court, Eastern District of New York, has granted the Firm's application for the appointment of an interim trustee today in connection with the involuntary Chapter 7 bankruptcy proceeding that the Firm commenced against Agape World, Inc. on February 5, 2009. "Today, with the granting of this motion, we took an important step forward. The Court has wisely created the framework for the victims of this Ponzi scheme to recover at least some of their losses," said Mark S. Mulholland, head of Ruskin Moscou Faltischek's Litigation Department and attorney of record for several petitioners in the case. As part of the ruling, the Judge ordered that an interim trustee be assigned, on an emergency basis, to oversee the affairs of Agape World in order to protect victims alleged to have lost more than $380 million in a scam masterminded by alleged swindler Nicholas Cosmo. The Court also enjoined Agape World from "transferring, conveying, selling, disposing or encumbering" any of its property or assets in an effort to further protect Agape's investors and to permit maximum recovery by victims. The Court set a date of March 12, 2009 for a hearing on whether the trustee should be appointed on a permanent basis. Once appointed, the trustee will be empowered to authorize attorneys and other professionals to investigate brokers and sub-brokers who are alleged to have profited enormously from the scheme just prior to its collapse. The trustee would also be authorized to compile a list of all creditors of Agape World, and to notify them of the bankruptcy proceedings, in order to protect victims' interests to the fullest extent of the law.
(Please contact mr mulhollands office if you have questions about what you should do to protect your interest if anything at all at this time - dom.)
I gave him "two" time options as my day was booked with those two exceptions.
One in the morning and one in the afternoon.
He did not call at either time.
I'll keep you posted if infact I hear from him.
Clearly, represented as a model citizen and one of CFA's Board of Director.
Sunday, February 15, 2009
Bob Mcmanus was kind enough to put together and walk us through a slide presentation of the origin of the groups creation, its development both emotionally and its current status.
He also outlined a plan going forward.
Mike Canale after having had the media room paid for and set up by his company (Scorenson Communications) had great imput into the direction we should be taking in the next few weeks.
Gary Corsale was also there to help keep the agenda organized and flowing towards a healthy conclusion.
In addition, Rich, Damian, Elizabeth, Cynthia, Paul, Darlene, Dr Patel and so many others made excellent contributions to the meeting in the way of comments and new ideas.
Over all the group was wonderful.
So, What did we accomplish?
At this point we asked for "leader" volunteers (got a few) and will continue to ask you all to consider joining that group.
We need as many as 20 for starters and I think we might have 5 or 6.
A leader will be responsible to report to and from a small group of agape "victims" with questions asked and answered by the attorneys, share news and events and take emails and phone calls from the respective group. Those leaders will then meet as a committee on a regular schedule and discuss current events and future plans for the larger group (the whole).
By the meetings end the group asked that we arrange to hear from "MARK S. MULHOLLAND esq, regarding a proposal to represent us.
We will try to arrange for that presentation this week.
Finally, JACOB ZAMANSKY has asked us to have us arrange for a larger group meeting this coming friday to speak the larger group.
Anyone interested in taking the "leader" responsibility, please let me know and I'll add you to the list.
If you already have a group of "victims" that you represent - or speak for and to - and are willing to act as their "point person", please let me know as well.
I would need their names and emails so we can create a master list for the disemination of important news from the group and thereby ensure that none are missed.
We should have the "mullholand" meeting info for you soon.
Friday, February 13, 2009
COST: 33% contingency. No out of pocket costs. In his words "I am not going to take a nickel out of your pocket" Any money recovered by the receiver or trustee (the court appointed attorney) to oversee what the feds get back, has nothing to do with this lawsuit and is not included in the contingency
LAW SUIT: He feels that there are two primary targets. Mann Financial (commodities broker) and
Bank of America. He says BofA is currently involved in similar lawsuits. Also “entrepreneur.com” and “dun and bradstreet”. He said he would look into if any money was passed from Cosmo to Entrepreneur.
He will also look into the “premium protection plan” insurance scam.
STATE vs FEDERAL COURT: He feels state court is better. Federal judges are appointed by the president of US and are less likely to be swayed by public opinion and or civilian hardships. State judges are elected by the people and will be more inclined to make decisions based on what is fair as opposed to what the written law demands. He won't rule out fed court if at some point he feel it may be more prudent.
Mr Zamansky is going to work towards recovering the money we invested and punitive damages.
He will not represent any broker or anyone who worked for a commission with nick.He is currently representing people in 5 ponzi scheme cases
My response has always been the same; "No. I'm not ready to decide on an attorney until I have more information on the pros and cons of doing so”.
Tonight a group of twenty of more fellow brothers and sisters came together here in Lindenhurst New York to hear “Jacob Zamansky Esq” highlight his plan for us.
I won’t broadcast his plan here on this blog. However I can tell you this.
He will be representing me.
I might even go so far as to say, he’ll very likely be representing every one who attended this meeting.
Tomorrow, the larger group of us and anyone vested in our common interest should make an effort to appoint one or two people from their circle of investors and meet us
"Media Room" of
1393 Veterans Highway
Just north of the LIE
The meeting will begin at 11am.
Our meeting agenda for tomorrow is to appoint committee personnel in an effort to manage the gathering, reporting and transmittal of relevant information to the complete body of investors.
I hope to see you there.
This excusable delay allows the this time to be expanded.
Typically this delay is to allow for discussions of resolutions or a plea deal to avoid trial. You should understand that any plea deal has no impact on the trustees efforts to gather up assets for distribution to the victims. All of these cases are separate and handled as such.
Thursday, February 12, 2009
a. Investors in Agape bridge loans or merchant advance scenarios who had continually reinvested their assumed interest payments at contract or period endings, into new Agape contracts or periods and never received any compensation in the form of interest or otherwise from Agape.
b. Investors who received assumed interest payments from Agape bridge loans or merchant advance scenarios and did not reinvest.
c. Investors who received finder’s fees from Agape to bring new investor into bridge loans or merchant advance scenarios in addition to their investment activities.
Although each person who invested in Agape is a victim, they all have differences as outlined above. These difference must be considered when making decisions on the proper path to take to protect your right to recovery.
This is how "Resolutions" is assisting victims. Further, because "Resolutions" is intricately involved in this process and therefore following all the components of this complex matter, including the trustee, the criminal proceeding and other civil proceedings, we have become the source for up to date information and guidance during this path.
(516) 289-4715 (p)
Nicholas Cosmo, chief executive Agape World Inc, has been jailed since his Jan. 26 arrest for allegedly defrauding clients who deposited $370 million in his investment operation. Court documents filed by federal prosecutors and a defense lawyer show they are in talks that could result in a guilty plea by the money manager.
The two sides "are engaged in plea negotiations, which they believe are likely to result in a disposition of this case without trial," according to a court filing Wednesday submitted by prosecutors.
The filing was a proposed order to the U.S. District Court in Central Islip, N.Y., to extend by 30 days a late February deadline for the government to seek a federal grand jury indictment against Cosmo.
Cosmo's lawyer, Stacey Richman, in a separate court filing, said her client had agreed to the delay "so that the defense and the government can engage in further discussions about the disposition of this matter."
Richman replaced Cosmo's first defense attorney, Steven Feldman. She was not immediately available for further comment Thursday. A spokesman for the U.S. Attorney's Office for the Eastern District of New York, declined to comment.
My opinion is that we need to make the public aware of the "real people" involved in this theft.
Your story might save someone elses life savings from being stolen.
One of our brothers "Michael A Canale", a District Manager, of "Sorenson Communications" was kind enough to make arrangements for the meeting to take place in the:
"Media Room" of
1393 Veterans Highway
Just north of the LIE.
Typically this room is rented to tenants for special events.
Sorenson Communications has agreed to "carry that cost" for us.
I would like all to acknowledge that in these trying times there are people out there that do care about their neighbors.
Congratulations to "Sorenson Communications". You are to be commended on your generousity and community mindedness.
Have a look at their site. These people are wonderful.
Wednesday, February 11, 2009
It has been suggested that "Conway will handle every case individually, depending on the circumstance".
"They will go after deep pockets if any exist". They have suggested that this is something in addition to what the government is doing.
They also suggested that "60% of the defrauded investors will not hire an attorney (statistically) and that they may or may not recover any losses from the government years from now".
According to our source, Conway has represented victims of 4 ponzi schemes in the past 2 years. The firm has succeeded in all cases to recover partial or total restitution.
They are asking an initial retainer fee between 3,500 and 5,000 depending on the amount invested, plus minimal expenses.
The contingency is 331/3 %.
It has also been suggested that the firm will not accept clients with less than 50k in principal loss.
Tuesday, February 10, 2009
The place has not been determined yet.
The Agenda is to organize groups into managable partitions, set schedules, hear suggestions and develop a plan going forward. I would like to see the group avoid redundant research and efforts.
We can not afford to lose momentum. We need to take every day as a step towards vindication.
I need you all to step up now. The time for complaining has past. The time for real action has come.
I'll post the time and place as soon as I can get someone to donate a space to us (school, church, VFW, etc).
If anyone can make those arrangements for us on Saturday, Please let me know ASAP.
This is the address:
Conway & Conway
1700 Broadway, Ste. 3100 (@53rd Street)New York,
New York 10019
Monday, February 9, 2009
We were asked to recognize and acknowledge that we are not one collective uniform group of victims. We make up more likely four or more seperate groups with distinct differences. And as such we need to understand where we fit before we "individually chose a strategy for going forward in a law suit.
Some possible groups might be:
a. investors who have put in principle and never taken any interest
b. investors who have put in principle and have taken interest and or some principle
c. investors who have put in principle, taken or not taken interest and been paid to bring in others
d. brokers/ recruiters / finders
e. investors who put money in, took it all out and more
The firm is suggesting that they can file an "involuntary bankrupcty" on behalf of the group for approx $7500 for those in "group A" and maybe some in "group b". It was their contention that having brought this "involentary bankruptcy" , they thereby would be having a "trustee appointed by the court to go after all assets and potential third partie assets.
The thing is... As we were told by the firm last night in complete candor...We could wait and the court will appoint this trustee anyway and do exactly the same thing with out paying a fee regardless.
The firm was very accommodating and informative, candid to a fault. I liked them. They didnt seem to be a large firm, but I do believe they know the bankruptcy laws. Further, I feel they were most helpful and should be considered going forward by the group as "friends".
Anyone interested in more information or creating a group of cooperative clients for this endevour should contact Thomas E. Valery, 516-280-4715 / 516-761-7900.
One last thing. I know that I have used the word "investor" in this blog. Please realize that I dont consider our monies, principle, interest or investment. It was basically "money taken under false pretense" and stolen assets.
Anyone interested in attending should let me know.
I'd like to arrange for a Wednesday mid-morning appointment. We can avoid traffic coming to and fro.
If you have other preferences please advise. I'm open to suggestions.
1. The law has to make third parties responsible for exposing the pubic to erroneous information. This will protect future victims going forward.
2. And to encourage the "agape family" to stand tall. I'm not sure if the article they print will highlight these facts. But I will say it again. we all have much to be proud of.
We live in a difficult time in a difficult world. We have all worked and saved hard enough to have some money to invest. We were "robbed", We didnt invest in a cardboard box that would magically change lead to gold. We invested in a "bridge loan company", a lender...It turned out the owner was a thief. He should be ashamed. Let him look into the eyes of his children and know that they see a thief. Our children should be proud that we are the type of men and women who make an honest living and we are not the type who'd take from others what is not ours.
I have seen the "internet sites that call us greedy and foolish". I say to these people, who are you... hiding behind a fake name, keyboard and monitor pointing a finger at us and calling us fools. Are you better than us. I would suggest that your insensitivity is cold and your behavior is cowardly. We, the victims are your mothers, fathers, sisters, brothers and neighbors (if not now, perhaps one day). If we fall in your path, do you step over us laughing at our misteps, or do you reach out your hand and help us to step up again.That decision will make you who you are.
Saturday, February 7, 2009
I have been asked to help them find a law firm that will represent us as "victims" of fraud.
Agape World Inc (AWI) presented us with contracts that were based on "lies" and deceit".
Our funding was to be directed towards "bridge loans" and "merchant advances", when in effect the assets we're ultimately directed to "brokers/recruiters", interest request by investors and commodities and future trades made by the president of AWI.
We would like to recover all assets that might be available from AWI owner, brokers, recruiters and third party affiliates.
We would also like to believe that "third parties", such as bank of america, millenium trust, entreprenuer.com, dunn and bradstreet, and others will be investigated for negligence and or complicity to defraud the public.
I hope this answers your question.
I dont want to post the firm names here.
But they all seem to be experianced in matters such as ours "investment fraud" and "consumer representation" against third party actions.
Friday, February 6, 2009
It would be interesting to know hwo this was facilitated.
Millenium Trust Co. ??? Are they custodians of any "agape victims" IRA rollovers?
Let me know
201 S Wellwood Avenue
Lindenhurst NY 11757
for more information on the Zamansky Firm go to:
Friday Feb 13th 3pm
201 S Wellwood Avenue
Lindenhurst NY 11757
Any group leaders representing other investors please bring your questions. We will spend some time with "jacob" and go back to our respective groups with the answers he provides on his offer to represent us.
Let me know if you can make it.
Some will say, "we should have known better", "if its too good to be true....".
But I would like to remind you and those who feel "we should have known better", that people invest in the stock market and win or lose daily. Basically gambling on the unforseeable outcome of some venture completely out of their control.
People invest in real estate ventures and win or lose with similar regularity.
It's not unusual for a speculator to buy a house and flip it the same day for a tremendous profit. I know because I see it everyday in my business.
Sometimes they make a bundle and others they might break even or even lose a few bucks.
Are they embarassed? Are they judged? I think not.
We didnt lose our money... It was stolen. We were lied to and certain media venues assisted perpetuating the facade of a legitimate enterprise to support the lies.
In addition, banks allowed this company to move funds in and out of accounts without question as to its legitimacy.
Brokers allowed "cosmo" to trade even though he was "prohibitted from doing so" according to his "felony conviction" release agreement.
Magazines and other Media portrayed him as a "shining star".
My point, dont be embarassed. We were fooled, but we are not "fools" We were robbed. We are victims of fraud. Some of us are middle americans with basic education, but there are many of us that are doctors and lawyers.
Be proud, you did nothing more than most high end stock market investors or realty speculators do every day.
Thursday, February 5, 2009
They'd like to write about investor efforts to organize and support each other and how unlike "Madoff", this scheme affected people with less clout (middle america).
Only people who agree will have their photos taken.
If youre interested in being there, let me know.
The group "reporter" should be:
- available to make meetings (law firm interviews and or group update sessions) day or night
- fluent in the language of his group
- prepared to take written notes from meetings with attorneys
- prepared to take questions to the attorneys from the group
- comfortable with computer / internet exchanges
I would like to hear from the group on this matter ASAP. I believe it is time to step up the pace and show that we are more than a mob, we have become a family of brothers and sisters.
Anyone interested in being part of my (dom dicolandrea) group, please email me. I would prefer to work with people from out of state, as I know that they cannot make each meeting and need someone local to speak to and for them.
Wednesday, February 4, 2009
The room count seemed to range from 75-100 participants.
Most in the rooms seemed familiar to each other as it seems we have become a family of sorts.
Some of the key points seemed to mimic mondays interview with Rivkin/Radler.
Some varied greatly.
Different from Mondays interview
1.100% contingency - no upfront or periodic retainers
2. very likely state court not federal
3. not a rico case
4. possible class action
5. hard to sue third parties
Similarities to Mondays interview
1. We are the largest Law firm on long island
2. We can handle this type of case and have great experiance in these matters
3. We have the resources to see this to the end
4. We feel confident that we can recover a portion of the lost funds
5. We can not estimate the time involved or the rate of return
6. They asked us to fillout questionare on amounts invested
we have other interviews to complete. lets be patient and dilligent.
Anyone interested (who might be a spokeperson for a larger group - 5 or more investors) should email me with your intention. I'll try to coordinate the rest.
Feb 11 8:30 am to 10 am
Feb 12 9-11 am
Feb 13 3-6 pm
Jacob H. Zamansky
Zamansky & Associates
50 Broadway, 32nd Floor
New York, New York 10004
(212) 742-1177 (fax)
I spoke to Jake Zamansky (of Zamansky and Assocaites) this morning. He said he would not work on a retainer basis.
He is willing to come out to LI to meet with the group but would like to meet with a smaller group of us first to go thru his thoughts.
BTW: he's currently handling some Madoff Investors.
He had some good suggestions for recovery that I will not post here for public viewing, but that we can discuss with him at our meeting. I will keep you posted as to any schedules pertaining to that end.
Tuesday, February 3, 2009
I'll keep you posted.
Go to http://www.zamansky.com/ for details on the law practice and its expericance .
from their site "We are one of the leading law firms specializing in securities fraud and financial services arbitration and litigation. We represent individual and institutional investors as well as brokerage industry employees who have been wrongfully terminated. Our practice is nationally recognized for our unrivaled ability to aggressively prosecute cases and recover losses".
How is Zamansky & Associates compensated for its advocacy and counsel?
In most circumstances, we work with clients based on a contingency or success based fee, which ensures that our financial interests are aligned with those of each client.
50 Broadway - 32nd FloorNew York, NY 10004
Phone: (212) 742 1414Fax: (212) 742 1177
Matthew Cohen, Esq.
Principal/Licensed Title Producer
Two Rivers Title Company, LLC
Two Rivers Abstract Company, LLC
Two Rivers Title Agency of New York, LLC
732-747-3615x15, Fax 732-747-3616
We are doing some of the Madoff plaintiff work and have a whole securities litigation and white collar crime group. Let me know. Thanks, Alan
1. Alan H. Fox, Esq. McCarter & English, LLP 100 Mulberry Street Gateway Four Newark, New Jersey 07102
Telephone: (973) 622-4444 x5354 Fax: (973) 624-7070
I have known Alan since law school. He has been a partner @ McCarter & English (does a lot of Sorbanes Oxley work now) for about 10 years.
2. John Gleason is very smart and nice guy, sues governments as well. I have known him about 3 years. John P. Gleason Gleason & Koatz, LLP 122 East 42nd Street, New York, New York 10168 T: 212-986-1544 F: 212-986-1379 C: 917-583-3123
www.gleasonkoatz.com (note from him - As an aside my firm has sued many a fraudster. We are familiar with the uses of the Fraudulent Transfer Act and how to ferret out assets and seize them.
3. My funds clients use Pomerantz Haudek and Block in NYC. I participated in one of those cases and was very impressed. Ask for Marc Gross 212- 661-1100 and tell him I referred. (Carol O'Rourke Pennington) Carol is at Colleran O’hara and Mills. I have worked with Michael Jew Esq. at that firm for years.
4. Mark J. Astarita
Beam & Astarita, LLC
110 Wall Street, 11th Floor
New York, New York 10005
60 Pompton Avenue
Verona, NJ 07044
V: 973-559-5566 F: 201-608-7888
Try also Denis Kelleher 212-825-1700. It is my understanding that he knows of the criminal attys at Herrick Feinstein. Tell them Denis Engel referred you. He does this work.
Michael D. Jew, Esq.
Colleran, O'Hara & Mills, LLP
1225 Franklin Avenue, Suite 450
Garden City, NY 11530
Dear Agape Investor:
We would like to invite you to a meeting regarding the Agape World andMerchant class action at our offices in Melville, New York, scheduled for February 4 at 5:00 p.m.
The address and telephone number at the office is:
Coughlin Stoia Geller Rudman & Robbins LLP
58 South Service Road, Suite 200Melville, NY 11747
Telephone (631) 367-7100 or (877) 992-2555
Facsimile (631) 367-1173
The partners, Sam Rudman and Mario Alba, and the manager of the Manhattan office, Jamie Eagen, will be there in person to answer questions, discuss the case and collect whatever documents you have that may assist indeveloping the case.
If you have contracts, It has been suggested that you bring them.
Please email Jamie Eagen at email@example.com
On February 2, 2009 a meeting was held at The Law Firm of Rivkin Radler. During the meeting Barry Levy, a Senior Partner at the firm, explained his firms qualifications, resources, and basic strategy on how to recover our losses.
At this time we would like to obtain a count of people that are interested in retaining Rivkin Radler as attorneys in possible civil litigation and serve as a representative of our investor group with the Government in filing our claims for restitution.
After an initial count of interested parties is established we will be able to determine the amount of retainer required per investor.
In an effort to expedite the engagement of the law firm, the initial retainer will be a flat fee regardless of the amount invested. Future retainer requirements may be prorated after the law firm has accurately established each investor’s principal investment/loss.
If you would like to join the group in retaining Rivkin Radler please respond to this email indicating so. If you have friends or family outside of your household who would like to join please send a separate email for each household.
Please respond immediately.
At that point we can organize committees and began the process of helping ourselves collectively.
Any thoughts, please let me know.
I'm not sure if anyone heard Steve Obie from the US Commodity Futures Trading Commission on the John Gambling Radio Show this morning, but I contacted their office and they are looking for other victims and they are taking Nicholas Cosmos to the Central Islip Federal Court (Judge Wexler) this Wednesday, February 4th, at 11:00 am and they want as many victims as they can get to contact them and to appear in court. I called Elizabeth Brennan at (646) 746-9747 - her office gave me this information. You should go on www.cftc.gov for more information. If anyone has any information, please do pass it along, I would really appreciate it. Obviously, we must all stick together in this.
Monday, February 2, 2009
He mentioned several components to his strategy, including going after the core defendants and several other periferral groups.
Mr Levy suggested that we the plaintifs should file in federal court because of the level of sophistication needed that state courts might not offer.
It was also recommended that we organize a committee of group leaders to meet with sub groups, organize voting structures on several issues including but not limited to how we will disperse any awards (perhaps on a pro rata basis).
His law firm has offered to represent the group with a "retainer for hours spent on the case".
I would suggest that you call the law firm directly to discuss the offer. I wouldnt want to post it publicly and or misrepresent the offer.
Some of the investors exchanged information at the close of the meeting and will communicate further on the potential to create committees.
If you'd like to hear from me on my personal opinion, feel free to email me at "firstname.lastname@example.org" or call my cell
Dom DiColandrea 917-567-9455
During the meeting we hope to discuss the options available for recovering our money.
The meeting has been arranged by several investors of Agape in an effort to pool our resources, and will take place at:
926 RexCorp Plaza
Uniondale, New York 11556-0926
For Directions Call 516 357-3000.
The press release also mentions that: “The government’s case is being prosecuted by Assistant United States Attorneys Grace M. Cucchissi and Vincent Lipari.”
Kessler also says, “Do not give out your personal information to anyone that you aren’t sure of without first performing your own due diligence. Definitely do not pay any fees to anyone, no matter how small.”
For over 20 years, Kessler International has been a world leader specializing in international corporate investigations, forensic accounting, brand protection and computer forensics. Established in 1988, Kessler International's satisfied clients are comprised of an extensive and distinguished list of Fortune 500 companies, government agencies, and prestigious law firms worldwide. Its diverse staff includes former prosecutors, former law enforcement agents, attorneys, certified forensic accountants, certified fraud examiners, certified forensic computer examiners, CPAs, certified internal controls auditors, licensed investigators and researchers.
For more information on forensic accounting, computer forensics, and investment fraud, visit Kessler International’s website at www.investigation.com or call (212) 286-9100.
President and CEO
New York, NY
Phone : 212-286-9100
Fax : 212-730-2433
We were referred to the attorney for any further information:
JOHN H. GIONIS Certilman Balin Adler & Hyman, LLP
90 Merrick Avenue
East Meadow, NY 11554
Phone (516) 296-7000
Fax (516) 296-7111
1393 Veterans Memorial Hwy., Suite 301S
Hauppauge, NY 11788
Phone (631) 979-3000
Fax (631) 979-7070
- ► 2010 (11)
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- the court filing.....
- newsday link to recent "agape" articles...
- Filed yesterday in Federal Court in Islip
- Wednesday Feb 25 2008
- It's Tuesday 2/24/09
- Friday night 2/20/09 with Jacob Zamansky Esq.
- RE: Mark S. Mulholland... from Cynthia Rechtman
- Master List - thank you "cynthia"
- Sent to us by "resolutions" Bryan and Thomas Valer...
- Friday Feb 20 meeting with Jacob Zamansky
- Post from Mike Canale - fellow agape victim
- Basically an uneventful day.
- I reached out to Mark Mulholland esq on saturday.....
- An interesting read about Agape... should be used ...
- Saturdays meeting at 1393 Vets Mem Hwy
- Zamansky in short:
- Chapter 7 Involuntary Bankruptcy Petition against ...
- Our Meeting With Jacob Zamansky Esq.
- Recent development...
- Response to my request for clarification from Reso...
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- "to plea or not to plea" that is the question....
- Newspaper looking for victims to interview.
- Dont forget Jacob Zamansky coming to lindenhurst F...
- VERY IMPORTANT NOTICE... SATURDAYS MEETING.
- Conway & Conway law firm
- Conway & Conway meeting results...
- Newsday article on the forced bankruptcy.
- Law Firm interview.
- Important Group Meeting this coming Saturday 2/14/...
- Conway & Conway meeting - update as of 5pm tuesday...
- Tonights meeting at Resolutions , Investingations ...
- Meeting tonight with an accounting firm.
- Conway & Conway law firm
- Our meeting with "newsday"
- In response to "a law firms request" for more info...
- Deductibility of Losses in a Ponzi Scheme
- Other law firms....
- If you'd like to speak to Newsday privately...
- To further our investigation ...
- Jacob Zamansky Esq - date changed to:
- Meeting with Jacob Zamansky Esq
- Newsday interview Sunday.
- Newsday would like to interview a few of us...
- Its time to set up our groups.
- FEB 4th - Meeting with Samuel Rudman Attorney at L...
- Small group meeting with Jacob Zamansky Esq
- From Bob (investor)
- Update ...
- Conway & Conway (212) 938-1080 was also mentioned ...
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- One investors thoughts.
- more recommendations.....
- Other law firm referral from investor - Coughlin S...
- Letter From "Joseph Fioribello " investor
- Next Meeting.
- How we got the "agape" client email list???
- Steve Obie from the US Commodity Futures Trading C...
- Complaint: Nicholas Cosmo, Agape World, Inc. and A...
- Meeting at Rivkin /Radler
- Victims of the "Agape World Inc" meeting in Uniond...
- U.S. Postal Inspection Service
- Investigator that has offered his services
- Attorney representing Agape Merchant Advance
- ▼ February (69)