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 Post subject: Re: Agape World, Inc. -- Nicholas Cosmo
PostPosted: Wed Dec 17, 2008 4:13 am 
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Joined: Tue Dec 16, 2008 1:16 am
Posts: 7
duke42 wrote:
Some of you people have the guy going to jail already without factual evidence which is what will cause the moderator to shut this down as others have. Let's please use this post for REAL EXPERIENCES not SPECULATION. That is what will help disclose the truth if there is something to disclose. BTW has anyone gone to the forums Nick is supposedly hosting? Just curious how they were going. Real experiences help.


Most people who have had real experiences with Agape World are probably current investors or past investors who no longer invest in Agape. This would make a very biased discussion towards investing in Agape. The discussion will only be about padding each others' back on how much money were made. No one will be critical about Agape business' practices as everyone is being paid out. This is the beauty of ponzi scheme, you can only found out until the end, when it finally collapse. The accusations on Agape World are based on facts and experiences, and most of the doubters have not, did not and will not invest in Agape. So it will make an interesting discussion, people who have invested should keep investing in Agape if they believe in it, and people who don't believe in Agape will probably not invest in them, HOWEVER, people who are still considering will be benefited by our discussion as they can draw their own conclusion.

ScamVictimsUnited.com was created by people who have been scammed and one of the main goals of this site is to warn people of potential scams. Agape World definitely falls under a potential scam category. The signals/clues/facts/experiences are very clear. There has been an extensive discussion regarding Agape on FatWallet.com, in which someone with a reasonable intelligence can deduct that Agape is a ponzi scheme. Locking down this thread will definitely go against a big part of what ScamVictimsUnited.com is all about.


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 Post subject: Re: Agape World, Inc. -- Nicholas Cosmo
PostPosted: Wed Dec 17, 2008 1:00 pm 
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Joined: Thu Sep 20, 2007 10:00 pm
Posts: 19
MD1438 wrote:
People on this site are trying to compare Agape World Inc to the Madoff Ponzi scam and it is groundless. Agape is a private company and does not have to offer full disclosure. Private equity firms and hedge funds act the same way. Every investment has a level of risk. I am not denying that they have some delayed loans. The company is giving the investors more transparency, information, and insurance than ever before due to the Madoff incident. Their is a worldwide credit crisis and that is the reason for the delayed loans. They had a delayed loan after the tragedy of 9-11-01 and it was paid. When the credit markets loosen up the loans will be paid off. If the loans are not paid, Agape will take properties that are put up as collateral. The investors will be paid off after the sale of the property. If investors want to pull out, that is their decision. The site should only contain factual information or it will be shut down. Please, for everyone s sake let s stick to the facts.


That's some mighty wishful thinking there, MD1438. As I've posted before, some of Agape's purported recent loans have been to some incredibly specious entities, such as Speranza Restaurant and Rose of Thorns. The former entity is controlled by a bankrupt felon while the latter may very well be a downtrodden charitable organization (I'm still awaiting feedback from this forum on my earlier findings) Do you REALLY think that these entites have assets that can help make you whole?

To make matters worse, a 3rd loan of which I recently became aware, Wakeag Landing, is yet another cause for concern. This project, from what I can gather, went belly-up in late 2005/early 2006. It makes me cringe to think that Cosmo was raising money for it a few months ago. Where did that money go?

It's only a guess, but I'd bet that Cosmo's other loans are backed by nothing more than his hot air. I suggest that everyone begin to thoroughly check out for themselves the entities to whom their money was supposedly loaned instead of banking on ANYTHING that Cosmo has told you.

Good luck.

PS - Dear Nick Cosmo, feel free to respond to this post and correct any misstatements that I may've made.


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 Post subject: Re: Agape World, Inc. -- Nicholas Cosmo
PostPosted: Wed Dec 17, 2008 1:27 pm 
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Joined: Fri Dec 12, 2008 10:03 am
Posts: 54
To back Archie up, I also did some research on some of the loans and found the Wakeag Landing project fell apart in late 2005. I found nothing to prove the project was revived. U.S. Steel was also named in another one of the loans. U.S. Steel, even after its stock has been decimated over the past 5 months, still has a market cap of over $billion dollars, assets of over 16 billion, and been in business since 1901. They have a moody's credit rating of Baa3, not the best, but still able to get bank financing, given its assets. Difficult to believe they borrowed money from Nick Cosmo at around 17 percent interest. Maybe I'm missing something? I contacted Clemson Grande Condo's, another loan recipient, never heard of Agape. Rose of Thorn appears to be a non profit organization. If so, they did not borrow money from a bridge lender. Speranza, enough said on that one. A couple years back, a raceway was listed as a reciever of Agape's funds, couldnt find anyone who knew what Agape was.


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 Post subject: Re: Agape World, Inc. -- Nicholas Cosmo
PostPosted: Wed Dec 17, 2008 2:50 pm 
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Joined: Thu Dec 11, 2008 3:52 pm
Posts: 29
The loans are suppose to be secured by assets. Have investors seen an appraisal for the value of the assets? Have investors seen the UCC lien on the assets?


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 Post subject: Re: Agape World, Inc. -- Nicholas Cosmo
PostPosted: Wed Dec 17, 2008 3:10 pm 
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Joined: Thu Oct 23, 2008 2:34 pm
Posts: 4
Let's break it down very simply.

If you think/know Agape is a scam you have common sense and can function in society.

If you think Agape is legit you're either clinically retarded or have a ton invested and are in denial.


Admin guy - I think we can close the book on this one.

CHECK MATE


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 Post subject: Re: Agape World, Inc. -- Nicholas Cosmo
PostPosted: Wed Dec 17, 2008 9:45 pm 
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Joined: Wed Dec 17, 2008 9:41 pm
Posts: 25
Check this out.....http://www.investigation.com/press66.htm......does it sound like AWI?


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 Post subject: Re: Agape World, Inc. -- Nicholas Cosmo
PostPosted: Wed Dec 17, 2008 10:03 pm 
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Joined: Wed Dec 17, 2008 10:00 pm
Posts: 15
I too am invested in Agape. I do have some concerns as well right now. I found this link on Wakeag and it looks like the property was repurchased some time after feb 08. So it is possible that construction is going on.

It has been quite a roller coaster ride.

http://www.investigation.com/press66.htm....


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 Post subject: Re: Agape World, Inc. -- Nicholas Cosmo
PostPosted: Wed Dec 17, 2008 10:07 pm 
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Joined: Wed Dec 17, 2008 10:02 pm
Posts: 9
Who should this guy get reported to? from what I hear all the loans are being delayed til the end of January 2009. Which means if there are a lot of redemptions which there will be after all this chatter online and the whole Madoff thing then it is poised to collapse most likely in the very near future. Is there any recourse for a person to report this guy to at least be investigated, for him to up and leave with all this money when there have been doubts for months would be horrible. What are people that may have their money tied up to do?


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 Post subject: Re: Agape World, Inc. -- Nicholas Cosmo
PostPosted: Wed Dec 17, 2008 10:25 pm 
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Joined: Thu Nov 20, 2008 3:22 pm
Posts: 7
Call the Dept of Justice, Brooklyn NY...just like I did...


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 Post subject: Re: Agape World, Inc. -- Nicholas Cosmo
PostPosted: Wed Dec 17, 2008 11:33 pm 
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Joined: Sat Nov 15, 2008 10:37 pm
Posts: 5
This will be my last post on this site. I don't want to be accused of being a shill, a retard or an idiot although I am probably not the sharpest knife in the drawer..... I didn't start posting to encourage anyone to invest (ironically no one ever encouraged me to invest or put pressure on me to bring in other people). I posted because I felt some comments were being made that weren't factual and were unjust. Do I have doubts about this company? You're darn right I do. I visit these sites because of some of the uncertainty I have/had.... I appreciate comments from the doubters and from those currently invested. It helps me as well draw some conclusions. I encourage all to stick to facts. Do I have doubts about companies on the stock exchange? You are darn right I do. The biggest difference is those companies on the exchange you can research and statements are disclosed. How helpful they are is certainly questionable given some of the stock values out there and the amount of money I actually lost, as I am sure many of you have. I work for a major private company and they don't have to disclose anything and more often than not they don't even when asked. From what I understand Agape will start disclosing more information to its investors. My opinion is they have to. The economic times for one, the delayed loan for another, and most recently the Madoff scam (although Agape had plans to disclose long before the Madoff news broke). another reason could be the insurance they will have from an actual insurance company to protect your investment. Maybe the insurance company asked them to disclose all the information before they agreed to coverage. I am at peace with my decisions now. No one can predict what the future holds. Best advice I can give is to diversify and don't put all eggs in one basket. Arc - there are open forums going on for investors. Get your cousin over to one and ask to join him/her if you'd like. Get your questions answered. You may feel better/you may feel worse. It helped make some decisions for me easier which is why I don't have to visit these sites any longer. Best of luck to all and Happy Holidays.


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 Post subject: Re: Agape World, Inc. -- Nicholas Cosmo
PostPosted: Thu Dec 18, 2008 12:17 am 
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Joined: Tue Oct 14, 2008 2:19 pm
Posts: 18
Duke 42, don t let the negative people on this site stop you from expressing yourself. This is a free country, say what is on your mind.


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 Post subject: Re: Agape World, Inc. -- Nicholas Cosmo
PostPosted: Thu Dec 18, 2008 7:10 am 
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Joined: Thu Sep 20, 2007 10:00 pm
Posts: 19
distance26 wrote:
Call the Dept of Justice, Brooklyn NY...just like I did...


Distance:

Who did you call? Please post the name and number or hit me with a PM.

Thanks.

Arc


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 Post subject: Re: Agape World, Inc. -- Nicholas Cosmo
PostPosted: Thu Dec 18, 2008 11:16 am 
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Joined: Thu Oct 23, 2008 9:45 pm
Posts: 20
invested wrote:
I too am invested in Agape. I do have some concerns as well right now. I found this link on Wakeag and it looks like the property was repurchased some time after feb 08. So it is possible that construction is going on.

It has been quite a roller coaster ride.

http://www.investigation.com/press66.htm....

Actually, the property (former Stinson Seafood property that was to be renamed Wakeag Landing) was put up for public auction on June 24, 2008. The public bidding was halted after the bidding stalled at about $850,000 (down from the previous listing of $3.1 million). The bidding went private and I saw no indication of what happened.


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 Post subject: Re: Agape World, Inc. -- Nicholas Cosmo
PostPosted: Thu Dec 18, 2008 1:49 pm 
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Joined: Fri Dec 12, 2008 10:03 am
Posts: 54
"New York, New York, July 30, 2008—Kessler International, the world’s premier forensic accounting, computer forensics and corporate investigation strategies firm, has completed a survey into fraudulent loan operations that take advantage of investors seeking a high rate of return. Kessler found that almost 98 percent of the loan operations paying exorbitant rates of return are either Ponzi or pyramid schemes."


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 Post subject: Re: Agape World, Inc. -- Nicholas Cosmo
PostPosted: Thu Dec 18, 2008 6:56 pm 
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Joined: Wed Dec 17, 2008 10:00 pm
Posts: 15
Just e-mailed with a local reporter in Maine and there is a prospective buyer for Wakeage Landing who is due to close in the next few days. The reporter is considering running a follow up article.

Perhaps they are in fact receiving a bridge loan from Agape which would be a lot more reassuring for some of us.


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