My relative may go to federal prison

My moms cousin, Nicholas Cosmo, and his investment company is being investigated for fraud by the US postal service and the FBI.

http://www.nbcnewyork.com/news/local/Feds-Probe-Another-Possible-Ponzi-Scheme.html

I just had dinner with this man less than four months ago. he has a wife and three kids - two babies one of which was just born recently. I'm ashamed to be related to him let alone have eaten dinner with him right before this blew up.

hope none of you were investors =/

Thats some shady shit. Feel sorry for the people who worked so hard to save only to loose it all potentially.

They didn't do their due diligence---their own damn fault---the guy has already been in prison---they didn't deserve the money.

thats fucked....

That's fucked up. He got busted for fraud once in '99, and they let him out a year later, just to do it again?!
I think "white-collar" crime should have punishments that are harsher than regular crime.
Sure, if someone murders a couple people, those families have lost loved ones, but to have your entire family lose their livelihood to some prick with a bank account; that's just not right.

what kind of moron invests with someone who 'guarantees' what was it...12%? 15%? not to mention the past conviction. his investors were ignorant and stupid, I feel so sorry for them but they could have easily avoided this had they opened their eyes wider.