Another Ponzi scheme uncovered in New York. This one allegedly run by a guy called Nicholas Cosmo. How come these crooks all have such great names? This one is a minnow, only $400 million.
They do have really good mafia type names, don't they. When you hear on the financial news, that Cosmo or Madoff have been arrested for fraud, you never know if they are talking about a ruthless leader of a criminal organisation, or a member of the mafia.
I can remember a time when $400 million was really worth something. I have a feeling that in a few years time I'll be able to say the same for $50 billion. Zimbabwe here we come.
