Agape suits against BofA consolidated
by Michael H. SamuelsPublished: June 24, 2009Tags: Bank of America, Jacob Zamansky, Nicholas Cosmo
Manhattan attorney Jacob Zamansky confirmed Wednesday that he is combining his lawsuit against Bank of America with two other class action suits also filed in federal court.
Zamansky said the new complaint will be filed within the next 30 days.
“It’s just the way class actions work,” Zamansky said. “The judge and the defendants want one class case to respond to. We agreed to work together.”
Zamansky said he will be the point-person for the new consolidated complaint.
His original suit, on behalf of victims of Nicolas Cosmo’s company Agape World, stated that Bank of America “aided and abetted, encouraged, and rendered substantial assistance” to the alleged $413 million fraud.
The suit also claimed that futures trading companies are at fault because Cosmo had been barred from associating with the securities industry. Zamansky’s suit said that the trading companies should havealso verified the “source and propriety” of the millions that came from a convicted felon.
Cosmo has been held in jail since he was arrested on Jan. 26. On Tuesday, he was denied bail for a third time, but he is expected to be released later this week.
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