ScamVictimsUnited.com

There is strength in numbers.

Scams in Today's News:


Bookmark and Share
It is currently Thu Mar 28, 2024 7:52 am



All times are UTC - 6 hours [ DST ]




Post new topic This topic is locked, you cannot edit posts or make further replies.  [ 282 posts ]  Go to page Previous  1, 2, 3, 4, 5, 6 ... 19  Next
Author Message
 Post subject: Re: Agape World, Inc. -- Nicholas Cosmo
PostPosted: Fri Nov 07, 2008 10:54 pm 
Offline

Joined: Thu Oct 23, 2008 9:45 pm
Posts: 20
What an absolute joke. Agape tells you on the one hand that your investment is 99% guaranteed (actually 100% minus 1% for "costs" to execute its security interest). And now they propose to charge you 3-4% of your investment to "insure" what you are told is only a 1% risk. Who would pay 3-4% to "insure" a possible 1% loss. And how will Agape fund the repayment of your investment if it's a significant or total loss? They can't do it by collecting a "premium" of 3-4%. They'll have to levy on the security the same way they would have if there was no "insurance". The 3-4% "insurance" premium is just a way to skim more money from investors or to attract new investors with the bogus promise that they are offering something that they already were offering for free. Smells to high heaven.


Top
 Profile  
 
 Post subject: Re: Agape World, Inc. -- Nicholas Cosmo
PostPosted: Sat Nov 15, 2008 9:31 pm 
Offline

Joined: Thu Sep 20, 2007 10:00 pm
Posts: 19
As my cousin continues to wait for the delayed Agape loan to pay off next month, he now tells me that he has information about a new loan that Agape is funding. For this one he actually gave me a real business name and address. It's Speranza, an Italian restaurant that is supposed to be opening soon on Long Island.

This deal is supposed to be paying like 15 or 16% over a 60-something day period. Works out to over 80% per year. Pretty good, even by Agape's standards.

Well, to anyone who might be considering this opportunity, including my blockhead cousin, please cut and paste the link below. I found it when I Googled the restaurant's name. It's the comments that are below the article that I invite everyone to read.

Apparently, someone by the name of Richard Ottimo is being identified as the owner of Speranza. I took the advice of whoever posted the second comment and Googled the name of Richard Ottimo. Ouch!!!

Here is what I found. Someone by the name of Richard Ottimo has been arrested by the FBI for a scheme to defraud the Dept of Defense (something about false billings). Someone by the same name has also filed for Bankruptcy in New York and may have later been charged with fraud in connection with that process. (Check out the "Evans versus Ottimo" document. It is quite revealing)

In any event, perhaps THE Richard Ottimo who was identified as the owner of Speranza is not THE Richard Ottimo who appears to be a bankrupt felon. If anyone knows for sure, please post. I'd hate to think that Agape is loaning investors' money to someone who makes Nick Cosmo look like an upstanding citizen.

Or perhaps it's just a case of birds of a (criminal) feather flocking together.

I'd sure like to know.

Here's the link.
http://eastofnyc.typepad.com/thebuzz/20 ... truct.html


Top
 Profile  
 
 Post subject: Re: Agape World, Inc. -- Nicholas Cosmo
PostPosted: Thu Nov 20, 2008 10:32 am 
Offline

Joined: Tue Nov 04, 2008 3:27 pm
Posts: 36
wow, good find Archie. It's amazing that they continue to get away with this scam.


Top
 Profile  
 
 Post subject: Re: Agape World, Inc. -- Nicholas Cosmo
PostPosted: Thu Nov 20, 2008 12:38 pm 
Offline

Joined: Sat Oct 25, 2008 8:29 am
Posts: 3
Just because someone has been to Jail doesn't mean it's a scam. We are all still getting paid! If you don't believe in it then just don't invest and stop bringing bad publicity!!! Or this topic will be closed as well....


Top
 Profile  
 
 Post subject: Re: Agape World, Inc. -- Nicholas Cosmo
PostPosted: Thu Nov 20, 2008 3:43 pm 
Offline

Joined: Thu Nov 20, 2008 3:22 pm
Posts: 7
I cant comment on Agape World, but Richard Ottimo is one and the same....He is the person behind the building of Speranza, but he is not the principle on the corp (7940 Jericho Turnpike)...It is his father Anthony Ottimo Sr. That is because Richard Ottimo is a convicted felony, who has been to federal jail, not once but twice. And can not get a liquor license in NY State. He is actually still on parole. I know first hand that Richard Ottimo is still up to his criminal ways as I am in the processes of trying to return him to jail.....If Nicholas Cosmo is a criminal as well I am not surprised that he is involved with Richard Ottimo. They must have met in jail.....

I wonder who will screw who first? Richard or Nicholas


Top
 Profile  
 
 Post subject: Re: Agape World, Inc. -- Nicholas Cosmo
PostPosted: Fri Nov 21, 2008 11:50 pm 
Offline

Joined: Sat Nov 15, 2008 10:37 pm
Posts: 5
I have invested in Agape for almost 2 years now. I had some extra money and was looking for a place to invest other than the market, bank, etc. I did some things with real estate and considered a small business like a car wash. A friend then introduced me to Agape. I have not had one problem with this company or any employee including Nick. I researched BBB, D&B and every other avenue available to me before I got started. This included internet searches to try and find someone that has had a bad experience. I haven't found one person say they got burned out of their money. I check back periodically to these threads, blogs, whatever you want to call them. All i see are people bashing Agape as a scam with not one single documented fact supporting that claim. I keep looking to see if anyone has proof of a scam because my investment has done tremendously well and i can't thank my friend enough for turning me on to Agape. It is the too good to be true theory but my experience has been nothing but true. It is a shame that the people that sit on the sidelines have nothing to say but "scam". This company has been around for 9 years and does rely heavily on private investment to fund its lending. There was a hiccup recently with one loan that has been delayed but when you look at the economic times it is understandable these things can occur. The investment is still outperforming the rest of my portfolio by far. The naysayers will now say I am trying to recruit more funds into the "scam". I can really care less what anyone else does with their money. I just would like everyone to state facts and call a scam a scam when someone actually gets burned.


Top
 Profile  
 
 Post subject: Re: Agape World, Inc. -- Nicholas Cosmo
PostPosted: Mon Nov 24, 2008 9:59 pm 
Offline

Joined: Thu Sep 20, 2007 10:00 pm
Posts: 19
Many thanks to those who confirmed that "the" Richard Ottimo who is associated with Speranza Food Studio is the same guy who has filed for Bankruptcy and has been to prison for fraud.

I found another article about Speranza that elicited some interesting remarks from the peanut gallery. See link below. Ottimo must be cursing the internet because it doesn't allow a character like him to simply slither away from his past and into new business ventures without detection.

Unfortunately though, all the bad pub doesn't seem to have discouraged Nick Cosmo from wanting to funnel investor money to this shady felon. That's the main reason I'm posting this information because someone should actually be checking the backgrounds of those who seek to borrow investor money from Agape. Consider this one a freebie Mr. Cosmo, but I'd be happy to do this sort of work in the future on a consulting basis. Perhaps you don't have internet access, because that, and half-a-brain, is all I needed to determine that a loan to Richard Ottimo makes an investment in a sub-prime mortgage look like a sure thing.

I'd love to hear Mr. Cosmo explain how and why he chose to loan investor money to this nefarious character. And I'd also like to know what assets Ottimo has to collaterize the loan because I'm guessing that anything Ottimo owned was liquidated or taken during his Bankruptcy proceedings.

And lastly, that ticking sound is the clock getting ready to strike December. God help us all if that delayed loan is not repaid as promised.

Here's the article with some additional not-so-flattering comments about the man behind Speranza.

http://weblogs.newsday.com/features/foo ... eplac.html


Top
 Profile  
 
 Post subject: Re: Agape World, Inc. -- Nicholas Cosmo
PostPosted: Wed Nov 26, 2008 10:47 am 
Offline

Joined: Tue Nov 04, 2008 3:27 pm
Posts: 36
duke42 wrote:
I have invested in Agape for almost 2 years now. I had some extra money and was looking for a place to invest other than the market, bank, etc. I did some things with real estate and considered a small business like a car wash. A friend then introduced me to Agape. I have not had one problem with this company or any employee including Nick. I researched BBB, D&B and every other avenue available to me before I got started. This included internet searches to try and find someone that has had a bad experience. I haven't found one person say they got burned out of their money. I check back periodically to these threads, blogs, whatever you want to call them. All i see are people bashing Agape as a scam with not one single documented fact supporting that claim. I keep looking to see if anyone has proof of a scam because my investment has done tremendously well and i can't thank my friend enough for turning me on to Agape. It is the too good to be true theory but my experience has been nothing but true. It is a shame that the people that sit on the sidelines have nothing to say but "scam". This company has been around for 9 years and does rely heavily on private investment to fund its lending. There was a hiccup recently with one loan that has been delayed but when you look at the economic times it is understandable these things can occur. The investment is still outperforming the rest of my portfolio by far. The naysayers will now say I am trying to recruit more funds into the "scam". I can really care less what anyone else does with their money. I just would like everyone to state facts and call a scam a scam when someone actually gets burned.


another sheep that is about to be slaughtered. Seriously people....if you are too blinded by the money, or too stupid to see what is going on here...please send me checks as well. I'll send you back a couple percentage points every 90 days (maybe) as you recruit more people...I will also discourage you from touching your principal...as I need that to pay points to the newbies and spend their principals on boats, big houses, sports complexes, etc, etc.

A lot of naive people are going to learn a hard lesson here very soon. The funny thing, it's a simple lesson that we have all heard several times in our lives: If it looks too good to be true, it is.

Now Nick has recruited other felons to loan money too, this will not end well for anyone involved.

I'm starting to think that many investors do know what is going on, and simply don't care as they think they can get out before it implodes...and were in early enough that they are made back their initial investment. Everyone keeps waiting around and surfing these forums looking for a disgruntled investor...someone who actually claims that they got scammed. Instead, they do study the history and workings of a ponzi scheme...and will quickly learn that this is right on course. Of course nobody has complained yet...and you won't hear that until EVERYONE does at once...that's how it works idiots. It's a house of cards, and it falls at one time...everyone will be left trying to figure out how they lost their money as they watch Nick get hauled away in cuffs on the 10 o'clock news.


Top
 Profile  
 
 Post subject: Re: Agape World, Inc. -- Nicholas Cosmo
PostPosted: Mon Dec 01, 2008 10:57 pm 
Offline

Joined: Sat Nov 15, 2008 10:37 pm
Posts: 5
Meat Curtains - how do you explain this going on for 9 years???? That is a hell of a run for a ponzi scheme. Why also would this guy draw so much attention to himself with Entrepenuer Magazine, etc? Why would he make himself available to investors and potential investors to ask whatever questions you want to ask of him. Why does agape come up clean in every search of BBB, D&B, etc? Why do they issue 1099's? Why, why, why if this is a ponzi??? Hopefully you are the idiot for not investing. Maybe in the end you will turn out right (i sure as hell hope not). All I am saying is the guy has been good by me (and many others), the company has done good by me (and many others). There has been a lot of speculating by you and others on these threads. I am going off actual experience. To each his own, everyone has to make their own decisions. You could've invested in a stock like AIG and lost everything or played it safe and got a few points in a CD, so far Agape has been by far my best investment.


Top
 Profile  
 
 Post subject: Re: Agape World, Inc. -- Nicholas Cosmo
PostPosted: Mon Dec 01, 2008 11:22 pm 
Offline

Joined: Tue Oct 14, 2008 2:19 pm
Posts: 18
All I hear on this site from the naysayers are assumptions, allegations, and baseless statements. Agape World Inc has had a lot of exposure in print and on the internet for a long time. They are under a microscope. If this was an illegitimate company the proof would came out a long time ago. Everyone should do their own research and decide if it s right for them. To make unfounded claims against the company is wrong.


Top
 Profile  
 
 Post subject: Re: Agape World, Inc. -- Nicholas Cosmo
PostPosted: Wed Dec 03, 2008 8:53 pm 
Offline

Joined: Thu Nov 06, 2008 9:23 pm
Posts: 11
wow no one responded to that. I guess someone has finally closed the mouths of the critics.


Top
 Profile  
 
 Post subject: Re: Agape World, Inc. -- Nicholas Cosmo
PostPosted: Fri Dec 05, 2008 3:59 pm 
Offline

Joined: Fri Dec 05, 2008 3:51 pm
Posts: 3
agapeworld are not paying lately. :cry:


Top
 Profile  
 
 Post subject: Re: Agape World, Inc. -- Nicholas Cosmo
PostPosted: Fri Dec 05, 2008 6:39 pm 
Offline

Joined: Mon Oct 20, 2008 9:09 pm
Posts: 7
I think jumbo is scared hater.I hope I am correct.
However if he is telling the truth is that all he would write?
:idea:


Top
 Profile  
 
 Post subject: Re: Agape World, Inc. -- Nicholas Cosmo
PostPosted: Tue Dec 09, 2008 10:23 am 
Offline

Joined: Thu Nov 06, 2008 9:23 pm
Posts: 11
Hey jumbo agape is still paying. I have recieved my checks and so has otheres I know. Don't say things that aren't true


Top
 Profile  
 
 Post subject: Re: Agape World, Inc. -- Nicholas Cosmo
PostPosted: Tue Dec 09, 2008 6:44 pm 
Offline

Joined: Fri Dec 05, 2008 3:51 pm
Posts: 3
i hope you have insurance. that they are trying to sell


Top
 Profile  
 
Display posts from previous:  Sort by  
Post new topic This topic is locked, you cannot edit posts or make further replies.  [ 282 posts ]  Go to page Previous  1, 2, 3, 4, 5, 6 ... 19  Next



All times are UTC - 6 hours [ DST ]


Who is online

Users browsing this forum: No registered users and 22 guests


You cannot post new topics in this forum
You cannot reply to topics in this forum
You cannot edit your posts in this forum
You cannot delete your posts in this forum
You cannot post attachments in this forum

Search for:
Jump to:  
Untitled document

 cron

Disclaimers, Message Board Guidelines and Privacy Policy   

Powered by phpBB® Forum Software © phpBB Group