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“Mini-Madoff” sentenced to 25 years for $400 million Ponzi scheme

Fraudster misled middle-class investors

A Ponzi schemer known as “mini-Madoff” was recently sentenced to serious jail time.

On Friday, a district court judge sentenced Nicholas Cosmo to 25 years in prison and ordered him to repay $179 million to more than 4,000 investors he deceived during a five-year Ponzi scheme.

Ashley Post

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