Reporter David Winzelberg is looking to speak to investors/victims for information for a book he's writing on Agape. No names will be used.
Email him at david.winzelberg@libn.com or call him at 917-796-1801
Saturday, December 12, 2009
Friday, December 11, 2009
NO MORE EXCUSES... EVERYONE OF YOU SHOULD PARTICIPATE
NO MORE EXCUSES !
I OFFER YOU HERE AN OPPORTUNITY TO BE HEARD.
A CHANCE TO BE ASSERTIVE, TO TAKE ACTION, TO FIGHT BACK, WITHOUT HAVING TO TAKE OFF FROM WORK, FLY TO NY, STAND IN THE COLD, OR WAVE A BIG SIGN THAT SAYS "I GOT RIPPED OFF".
THIS PARTICIPATION YOU CAN ACCOMPLISH AT YOUR OWN PACE, ON YOUR OWN SCHEDULE, ANONYMOUSLY AND WITH ALMOST NO COST (PENNIES FOR THE PHOTOCOPIES).
NO MORE EXCUSES.
I CHALLENGE THE GROUP TO DESIGN (OR ASK FOR A COPY OF ONE OF MINE), PRINT AND DISTRIBUTE AS MANY FLYERS AS YOU CAN AT ANY BANK OF AMERICA" INDOOR ATM FACILITY.
THE THEME OF THE "FLYER" SHOULD BE BOA'S HISTORY OF INVOLVEMENT IN ANY "ONE OR MORE" OF THE DOZENS OF MISDEEDS AGAINST THE PUBLIC INTEREST INCLUDING BUT NOT LIMITED TO THE "AGAPE WORLD INC" PONZI.
THE KEY TO A SUCCESSFUL CAMPAIGN OF PUBLIC AWARENESS IS CONSISTENCY (KEEP THE FLYERS FLOWING) AND TIMING (WE NEED TO DO THIS ON WEEKENDS OR EVENINGS (WHEN THE BANK STAFF WONT BE AROUND TO REMOVE AND TRASH THEM).
OUR OBJECTIVE... EDUCATE THE BOA ACCOUNT HOLDERS AS TO BOA'S ALLEGED INVOLVEMENT
IN THE AGAPE WORLD INC PONZI AND OTHER CRIMINAL ACTIVITIES.
IF YOU DO THIS, PLEASE ENCOURAGE THE OTHER GROUP MEMBERS TO DO THE SAME BY SIGNING ONTO THE YAHOO GROUP SITE AND LETTING US KNOW HOW MANY YOU DROPPED OFF AND IN WHAT CITY (DO NOT MENTION THE BRANCH BY NAME).
I WISH YOU ALL SUCCESS.
check out this video of one young womans courage to speak out against BOA:
http://consumerist.com/2009/11/ex-bank-of-america-employee-tells-all-in-youtube-video.html
I OFFER YOU HERE AN OPPORTUNITY TO BE HEARD.
A CHANCE TO BE ASSERTIVE, TO TAKE ACTION, TO FIGHT BACK, WITHOUT HAVING TO TAKE OFF FROM WORK, FLY TO NY, STAND IN THE COLD, OR WAVE A BIG SIGN THAT SAYS "I GOT RIPPED OFF".
THIS PARTICIPATION YOU CAN ACCOMPLISH AT YOUR OWN PACE, ON YOUR OWN SCHEDULE, ANONYMOUSLY AND WITH ALMOST NO COST (PENNIES FOR THE PHOTOCOPIES).
NO MORE EXCUSES.
I CHALLENGE THE GROUP TO DESIGN (OR ASK FOR A COPY OF ONE OF MINE), PRINT AND DISTRIBUTE AS MANY FLYERS AS YOU CAN AT ANY BANK OF AMERICA" INDOOR ATM FACILITY.
THE THEME OF THE "FLYER" SHOULD BE BOA'S HISTORY OF INVOLVEMENT IN ANY "ONE OR MORE" OF THE DOZENS OF MISDEEDS AGAINST THE PUBLIC INTEREST INCLUDING BUT NOT LIMITED TO THE "AGAPE WORLD INC" PONZI.
THE KEY TO A SUCCESSFUL CAMPAIGN OF PUBLIC AWARENESS IS CONSISTENCY (KEEP THE FLYERS FLOWING) AND TIMING (WE NEED TO DO THIS ON WEEKENDS OR EVENINGS (WHEN THE BANK STAFF WONT BE AROUND TO REMOVE AND TRASH THEM).
OUR OBJECTIVE... EDUCATE THE BOA ACCOUNT HOLDERS AS TO BOA'S ALLEGED INVOLVEMENT
IN THE AGAPE WORLD INC PONZI AND OTHER CRIMINAL ACTIVITIES.
IF YOU DO THIS, PLEASE ENCOURAGE THE OTHER GROUP MEMBERS TO DO THE SAME BY SIGNING ONTO THE YAHOO GROUP SITE AND LETTING US KNOW HOW MANY YOU DROPPED OFF AND IN WHAT CITY (DO NOT MENTION THE BRANCH BY NAME).
I WISH YOU ALL SUCCESS.
check out this video of one young womans courage to speak out against BOA:
http://consumerist.com/2009/11/ex-bank-of-america-employee-tells-all-in-youtube-video.html
Tuesday, December 8, 2009
Victims Group Info
NETWORK FOR INVESTOR ACTION AND PROTECTION FORMED BY INVESTMENT FRAUD VICTIMS
Non-profit group will focus on prevention of investment fraud and assistance for fraud victimsNew York, NY (Dec. 8, 2009) — A group of investment fraud victims has formed the Network for Investor Action and Protection (NIAP), a not-for-profit organization dedicated to helping investors and victims of investment fraud.
The Network, a natural outgrowth of the group’s meetings, planning, advocacy, and extensive collaboration that began in the weeks following the discovery of the Madoff fraud, will pursue regulatory reform to more effectively police and prevent investment and securities fraud, and will seek better treatment for fraud victims.NIAP (www.investoraction.org) - initially seeks to unite thousands of victims of several recent frauds, serving as an advocate for the rights of victims.
It will also line up support for much-needed legislative and regulatory change at market oversight agencies as the Securities and Exchange Commission (SEC), the Financial Institutions Regulatory Authority (FINRA), and the Securities Investor Protection Corporation (SIPC).“It’s extremely unfortunate that existing laws are being interpreted to the detriment of many victims of investment fraud, who are already suffering terribly from Washington’s poor oversight,” said Ron Stein, NIAP’s President and co-founder. “Most investors don’t realize how limited the protection of their investment assets is. NIAPs platform will allow us to pursue our goals of improved treatment for fraud victims and the equally important objective of better oversight of the investment community.”“The public doesn’t fully grasp the diversity of those whose lives were ruined by these frauds and the incredible hardship that resulted,” said Ilene Kent, a member of NIAP’s Executive Committee. “A vast number of the victims are every day, hardworking people of all economic backgrounds, a true cross-section of America. Our plight – made worse by decades of government negligence – is being largely ignored.”
As a 501c4 tax-exempt organization, NIAP will be able to solicit donations and lobby for legislative changes at both the state and federal levels. NIAP has already begun the process of reaching out to members of Congress to advance its agenda. Indeed, NIAP members played an integral role in making this week’s Congressional hearings on the Investor Protection Act amendments happen, and in drafting the legislation recently announced by Sen. Charles Schumer’s (D – New York) office that will provide significant relief for indirect investors.
NIAP represents a collaboration between existing Madoff investor groups and individuals and the investor population-at-large, rightly concerned about the protection of their assets and the safety of their brokerage firms.“We want to bring together victims of investment fraud — including union members, pension fund holders, in short direct and indirect investors alike — to speak with one voice on what important changes need to be made so all investors can feel safe under our country’s regulatory framework,” said Kent, who is also the group’s Outreach Coordinator. “We want investors to feel that the SIPC, FINRA, and the SEC are competent and actually represent investor interests.
###
Contacts:Michael Wichman, The Hamilton Groupmwichman@thehamiltongroup.net
P: 212-213-3144
Ilene Kent, Network for Investor Action and Protectionilenek@investoraction.org
P: 212-787-9826
C: 917-584-9474
Non-profit group will focus on prevention of investment fraud and assistance for fraud victimsNew York, NY (Dec. 8, 2009) — A group of investment fraud victims has formed the Network for Investor Action and Protection (NIAP), a not-for-profit organization dedicated to helping investors and victims of investment fraud.
The Network, a natural outgrowth of the group’s meetings, planning, advocacy, and extensive collaboration that began in the weeks following the discovery of the Madoff fraud, will pursue regulatory reform to more effectively police and prevent investment and securities fraud, and will seek better treatment for fraud victims.NIAP (www.investoraction.org) - initially seeks to unite thousands of victims of several recent frauds, serving as an advocate for the rights of victims.
It will also line up support for much-needed legislative and regulatory change at market oversight agencies as the Securities and Exchange Commission (SEC), the Financial Institutions Regulatory Authority (FINRA), and the Securities Investor Protection Corporation (SIPC).“It’s extremely unfortunate that existing laws are being interpreted to the detriment of many victims of investment fraud, who are already suffering terribly from Washington’s poor oversight,” said Ron Stein, NIAP’s President and co-founder. “Most investors don’t realize how limited the protection of their investment assets is. NIAPs platform will allow us to pursue our goals of improved treatment for fraud victims and the equally important objective of better oversight of the investment community.”“The public doesn’t fully grasp the diversity of those whose lives were ruined by these frauds and the incredible hardship that resulted,” said Ilene Kent, a member of NIAP’s Executive Committee. “A vast number of the victims are every day, hardworking people of all economic backgrounds, a true cross-section of America. Our plight – made worse by decades of government negligence – is being largely ignored.”
As a 501c4 tax-exempt organization, NIAP will be able to solicit donations and lobby for legislative changes at both the state and federal levels. NIAP has already begun the process of reaching out to members of Congress to advance its agenda. Indeed, NIAP members played an integral role in making this week’s Congressional hearings on the Investor Protection Act amendments happen, and in drafting the legislation recently announced by Sen. Charles Schumer’s (D – New York) office that will provide significant relief for indirect investors.
NIAP represents a collaboration between existing Madoff investor groups and individuals and the investor population-at-large, rightly concerned about the protection of their assets and the safety of their brokerage firms.“We want to bring together victims of investment fraud — including union members, pension fund holders, in short direct and indirect investors alike — to speak with one voice on what important changes need to be made so all investors can feel safe under our country’s regulatory framework,” said Kent, who is also the group’s Outreach Coordinator. “We want investors to feel that the SIPC, FINRA, and the SEC are competent and actually represent investor interests.
###
Contacts:Michael Wichman, The Hamilton Groupmwichman@thehamiltongroup.net
P: 212-213-3144
Ilene Kent, Network for Investor Action and Protectionilenek@investoraction.org
P: 212-787-9826
C: 917-584-9474
Thursday, December 3, 2009
The Latest... (thanks Dave)
Trustee settling with Agape brokers
by David WinzelbergPublished: December 3, 2009Tags: Agape World, Nicholas Cosmo, Ponzi scheme
Five people who the feds allege pocketed more than $40 million by selling bogus investments for Nicholas Cosmo’s Agape World are negotiating to settle the lawsuits brought against them by the bankruptcy trustee in the case.
Trustee Ken Silverman and attorneys from his firm Silverman Acampora told the federal bankruptcy court Tuesday that they were actively negotiating settlements with some of the former Agape World brokers, including Jason Keryc, Bryan Arias, Hugo Arias and Diane Kaylor, and each of their corporate entities.
Silverman is in “early stages of discussions” concerning a resolution of the claims against Jose Ricardo Diaz.
The trustee explained that any settlement is subject to further investigation regarding the disposition of funds received from the brokers and others who profited from Agape, the Hauppauge-based company that feds charge was really a $413 million Ponzi scheme.
Silverman had sued the brokers to reclaim the lucrative commissions Cosmo had paid to them, which feds estimated at $55 million. Keryc was sued for $16 million, Hugo Arias for $10 million, Diaz for $8 million, Kaylor for $4.75 million, and Bryan Arias, Hugo’s brother, for $2 million.
The court also approved the trustee’s $180,000 settlement with Stephenson Lane Carriage Homes, a Maine housing project Agape lent $214,000 to. A payment of about $749,000 to the trustee for services rendered so far on the Agape case was also approved by the court.
Also, about two dozen victims of Cosmo’s alleged fraud are expected to rally in front of the Bank of America tower across from Bryant Park in Manhattan on Friday at noon. New Jersey resident Lucille Manzella, who helped organize the protest, said the event is aimed at calling attention to the bank’s role in Agape World’s business operations.
A class-action suit filed on behalf of Agape victims claims the bank assigned more than one employee to Cosmo’s office in Hauppauge and supplied direct access to the bank’s accounts. The suit says Bank of America also provided Cosmo with access to information about the cash balances of Agape investors who had accounts with the bank. Those Agape investors routinely received aggressive solicitations from the company when their balances swelled, the suit claims.-- David WinzelbergReporterLong Island Business News631-913-4247david.winzelberg@libn.comhttp://www.libn.com/spacedout
by David WinzelbergPublished: December 3, 2009Tags: Agape World, Nicholas Cosmo, Ponzi scheme
Five people who the feds allege pocketed more than $40 million by selling bogus investments for Nicholas Cosmo’s Agape World are negotiating to settle the lawsuits brought against them by the bankruptcy trustee in the case.
Trustee Ken Silverman and attorneys from his firm Silverman Acampora told the federal bankruptcy court Tuesday that they were actively negotiating settlements with some of the former Agape World brokers, including Jason Keryc, Bryan Arias, Hugo Arias and Diane Kaylor, and each of their corporate entities.
Silverman is in “early stages of discussions” concerning a resolution of the claims against Jose Ricardo Diaz.
The trustee explained that any settlement is subject to further investigation regarding the disposition of funds received from the brokers and others who profited from Agape, the Hauppauge-based company that feds charge was really a $413 million Ponzi scheme.
Silverman had sued the brokers to reclaim the lucrative commissions Cosmo had paid to them, which feds estimated at $55 million. Keryc was sued for $16 million, Hugo Arias for $10 million, Diaz for $8 million, Kaylor for $4.75 million, and Bryan Arias, Hugo’s brother, for $2 million.
The court also approved the trustee’s $180,000 settlement with Stephenson Lane Carriage Homes, a Maine housing project Agape lent $214,000 to. A payment of about $749,000 to the trustee for services rendered so far on the Agape case was also approved by the court.
Also, about two dozen victims of Cosmo’s alleged fraud are expected to rally in front of the Bank of America tower across from Bryant Park in Manhattan on Friday at noon. New Jersey resident Lucille Manzella, who helped organize the protest, said the event is aimed at calling attention to the bank’s role in Agape World’s business operations.
A class-action suit filed on behalf of Agape victims claims the bank assigned more than one employee to Cosmo’s office in Hauppauge and supplied direct access to the bank’s accounts. The suit says Bank of America also provided Cosmo with access to information about the cash balances of Agape investors who had accounts with the bank. Those Agape investors routinely received aggressive solicitations from the company when their balances swelled, the suit claims.-- David WinzelbergReporterLong Island Business News631-913-4247david.winzelberg@libn.comhttp://www.libn.com/spacedout
Thursday, November 12, 2009
Santa Claus is coming to town .... "not".
Ponzi scheme victims to get checks soon
Photo credit: Newsday File / Oct. 8, 2009 / James Carbone | Nicholas Cosmo arrives at federal court in Central Islip.
On the other hand, DiColandrea is a little discouraged the initial recovery is so small: less than a half-cent on the dollar.
About 800 victims of Cosmo's alleged $413-million Ponzi scheme should start receiving checks early next month, according to court filings made public by Silverman Acampora.
The Jericho law firm has recovered a little more than $5 million in assets held by Cosmo and his Hauppauge company, Agape World Inc. A little more than $400,000 already has been paid out pursuant to prior court orders.
A motion in U.S. Bankruptcy Court Friday in Central Islip asked for interim distribution of about $2.4 million. The court is expected to decide on the motion Dec. 1, attorney Ron Friedman of Silverman Acampora said Tuesday.
"That comes to about $800 on every $100,000 invested," said DiColandrea, 53, a West Babylon real estate appraiser who lost about $200,000 in the alleged scam. "I'll get a check for $1,600. That's not exactly what you'd hope to get back."
About 5,000 claims have been filed against Cosmo - who is in jail awaiting trial - and his company. Cosmo was arrested by federal authorities in January and charged with wire and mail fraud in the alleged Ponzi scheme.
A Central Islip federal judge last month ordered that Cosmo be sent back to jail to await trial after finding that the former Lake Grove resident had violated three conditions of bail. Cosmo had been in jail since his arrest until he posted $1.25 million bail in July.
Friedman said up to $1.4 million of the recovered funds could go toward professional fees and another $1 million could be held in reserve.riedman also said more litigation was ahead and more assets were out there. "It's hard to put a dollar amount on it because you don't know what the market will bring," he said.
Saturday, November 7, 2009
Regarding the Yahoo group "agape" website
Its been a several weeks since any of you have heard from me on "agape".
I generally post only that which I find relative and productive.
Well, a few of us have agreed that we should remove from access to this site
anyone who does not contribute comments and or support.
The consensus is that as long as we make the information free, the 400+ members
that observe but don't contribute will never come forward.
I put this thought out to you. If you are here with us in spirit, If you are
here with us emotionally, then you can post a comment in support. You don't have
to live nearby. It only takes a minute every now and then.
To those of you who do comment (regardless of your opinions), of course you
would continue to have access. But to those of you who chose to remain
"observers", I suggest that you be prepared to lose your ability to "watch
others do all the work".
I give you all one week to step forward and make some kind of contribution of
time and energy to the cause (something as simple as posting a comment so we
know you're interested).
At that point we regret to inform you that access to this site and your
membership thereof will be suspended.
Today is 11/7/09. Next Saturday is the cut off.
Those of you who are regular contributors know who you are. Dont worry, this
will not affect your membership access.
To post a comment on the yahoo group site go to:
http://finance.groups.yahoo.com/group/agapeworldinc/message/2959
I generally post only that which I find relative and productive.
Well, a few of us have agreed that we should remove from access to this site
anyone who does not contribute comments and or support.
The consensus is that as long as we make the information free, the 400+ members
that observe but don't contribute will never come forward.
I put this thought out to you. If you are here with us in spirit, If you are
here with us emotionally, then you can post a comment in support. You don't have
to live nearby. It only takes a minute every now and then.
To those of you who do comment (regardless of your opinions), of course you
would continue to have access. But to those of you who chose to remain
"observers", I suggest that you be prepared to lose your ability to "watch
others do all the work".
I give you all one week to step forward and make some kind of contribution of
time and energy to the cause (something as simple as posting a comment so we
know you're interested).
At that point we regret to inform you that access to this site and your
membership thereof will be suspended.
Today is 11/7/09. Next Saturday is the cut off.
Those of you who are regular contributors know who you are. Dont worry, this
will not affect your membership access.
To post a comment on the yahoo group site go to:
http://finance.groups.yahoo.com/group/agapeworldinc/message/2959
Sunday, November 1, 2009
Dates
Court Dates:
Unless noted otherwise, all hearings will be held before the Honorable Dorothy T. Eisenberg at the United States Bankruptcy Court, Eastern District of New York, Courtroom 760, Central Islip, New York
| Oct. 22, 2009: Time: 2:00 p.m. | Hearing on Trustee's Third Omnibus Claims Objection Motion Hearing on Trustee's Fourth Omnibus Claims Objection Motion Hearing on Trustee's Fifth Omnibus Claims Objection Motion Hearing on Trustee's Sixth Omnibus Claims Objection Motion |
| Nov. 3, 2009: Time: 11:00 a.m. | Hearing on Trustee's Seventh Omnibus Claims Objection Motion Hearing on Trustee's Eighth Omnibus Claims Objection Motion Hearing on Trustee's Ninth Omnibus Claims Objection Motion Hearing on Trustee's Tenth Omnibus Claims Objection Motion Hearing on Trustee's Eleventh Omnibus Claims Objection Motion Hearing on Trustee's Twelfth Omnibus Claims Objection Motion Hearing on Trustee's Thirteenth Omnibus Claims Objection Motion |
| Nov. 5, 2009: Time: 2:00 p.m. | Hearing on Trustee's Fourteenth Omnibus Claims Objection Motion Hearing on Trustee's Fifteenth Omnibus Claims Objection Motion Hearing on Trustee's Sixteenth Omnibus Claims Objection Motion |
| Nov. 10, 2009: Time: 2:00 p.m. | Hearing on Trustee's Seventeenth Omnibus Claims Objection Motion
|
| Nov. 17, 2009: Time: 2:00 p.m. | Pre-trial conference: Silverman v. Cyrek, Inc./Jason Keryc
|
| Nov. 19, 2009: Time: 11:00 a.m. | Status Conference Pre-trial Conference: Silverman v. Hugo Arias, et. al. Pre-trial Conference: Silverman v. Precision Processing, et. al. Pre-trial Conference: Silverman v. Brandino Corp., et al. Pre-trial Conference: Silverman v. Jose Ricardo Diaz, Inc., et al. |
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