Ponzi scam victims fight back online

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	Ponzi scam victims fight back online

tdsmum

2-2-2009 3:19 PM

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<div style="margin: 12px 0px; font-family: arial; color: #333333; background: #ffffff; border: solid 4px #e5e5e5; width: 100%; clear: left;"><div class="CM_CTB_Content_Wrap" style="margin: 0px; padding: 0px;background-color: #ffffff;"><div style="border-bottom: solid 1px #dcdcdc; white-space: nowrap; margin-bottom: 8px; background-color: #eeeeee ;background-image: url(http://clipmarks.com/images/source-bg.gif); background-repeat: repeat-x; height: 24px; line-height: 24px; vertical-align: middle; padding-bottom: 4px; color: #666666; font-size: 10px;" ><a href="http://clipmarks.com/clip-to-blog/" title="see clips that are hot right now"><img src="http://content.clipmarks.com/blog_embed/3691b16e-da7d-400d-9882-6ee0ad8469f2/46F841CE-96F0-4529-948C-EFC0C9267B87/" alt="" width="19" height="19" border="0" style="vertical-align: middle; margin: 0px 4px; display: inline; border: none; float:none;" /></a>clipped from <a title="http://tech.yahoo.com/news/nm/20090202/tc_nm/us_usa_fraud_1" href="http://tech.yahoo.com/news/nm/20090202/tc_nm/us_usa_fraud_1" style="font-size: 11px;">tech.yahoo.com</a></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://tech.yahoo.com/news/nm/20090202/tc_nm/us_usa_fraud_1"><P>
BOSTON (Reuters) - 
Nearly four months before this week's arrest of the boss of a New York investment firm on charges of defrauding at least 1,500 investors of more than $370 million, Howard Stevens suspected the company was a sham.</p> <P>
Stevens went online and warned other investors. Using the nickname "hBomb," he wrote on an Internet message board that Agape World Inc, the firm run by Nicholas Cosmo who was arrested this week, "is a 100 percent fraud."</p> <P>
"Please DO NOT invest your money with these scam artists. Nick Cosmo should change his name to Nick Ponzi," he wrote.</p> <P>
The Internet is offering early warning signs, and in some cases filling a regulatory void, as the year-long recession exposes growing numbers of multimillion-dollar <SPAN id="lw_1233533537_0" class="yshortcuts">Ponzi schemes</SPAN> that pay older investors with money from new clients.</P></blockquote></div><div style="margin: 0px 6px 6px 4px;"><table style="font-size: 11px;border-spacing: 0px;padding: 0px;" cellpadding="0" cellspacing="0" width="100%"><tr><td style="background:transparent;border-width:0px;padding:0px;">&nbsp;</td><td align="right" style="background:transparent;border-width:0px;padding:0px;width:107px" width="107"><a href="http://clipmarks.com/share/46F841CE-96F0-4529-948C-EFC0C9267B87/blog/" title="blog or email this clip"><img src="http://content8.clipmarks.com/images/c2b-foot.png" border="0" alt="blog it" width="107" height="17" style="border-width:0px;padding:0px;margin:0px;" /></a></td></tr></table></div></div>

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