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 Post subject: Re: Agape World inc
PostPosted: Fri Jan 23, 2009 1:58 pm 
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Joined: Thu Jan 22, 2009 5:58 pm
Posts: 18
I am no shill for anyone. I am here in Maine and you can visit the project anytime you choose. I called the investigators as well. The calims on this blog have been incorrect about the carriage homes project. This is a simple project and that's it. If you don't believe Arthur House exists - drive to Belfast and visit the site and pick up a hammer and we'll give you some work.


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 Post subject: Re: Agape World inc
PostPosted: Fri Jan 23, 2009 3:56 pm 
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Joined: Wed Dec 17, 2008 9:41 pm
Posts: 25
Check this out!


http://libn.com/blog/2009/01/23/li-inve ... stigation/


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 Post subject: Re: Agape World inc
PostPosted: Fri Jan 23, 2009 4:02 pm 
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Joined: Fri Jan 23, 2009 3:55 pm
Posts: 3
apparently the FBI raided Agape headquarters this afternoon. The truth will be revealed in time.


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 Post subject: Re: Agape World inc
PostPosted: Fri Jan 23, 2009 4:12 pm 
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Joined: Thu Jan 22, 2009 5:58 pm
Posts: 18
And, it will be revealed that Carriage Homes and I have done nothing wrong, and that I am not a shill for anyone. Let the chips fall where they may. I will be owed a few apologies when this is done. Not one of the shrill voices here will be heard then - that requires a back bone!


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 Post subject: Re: Agape World inc
PostPosted: Fri Jan 23, 2009 4:13 pm 
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Joined: Tue Nov 04, 2008 3:27 pm
Posts: 36
The gig is up

LI investment firm halts payouts, under investigation
by David Winzelberg
Published: January 23, 2009
Tags: Agape World, crime, investments


Nicholas Cosmo, founder of investment firm Agape World
New York and federal officials are investigating a Hauppauge investment firm that has indefinitely halted payouts to clients, citing setbacks on commercial real estate loans.

The firm, Agape World, specializes in short-term, high-yield loans to developers and builders, offering investors returns of as much as 14 percent in as little as 72 days.

The firm’s founder, Nicholas Cosmo, told investors on a 1 p.m. conference call on Friday that three borrowers had defaulted on loans, forcing the halt in payments. Cosmo told more than 150 investors on the call that he had hired a law firm to foreclose on the projects and recoup investments, but that the process could take as long as one year.

“My job is to make sure that principal is paid back in total,” Cosmo said on the call.

Cosmo did not immediately respond to e-mails seeking comment. Attempts to reach him by phone were also unsuccessful.

Agape clients invested between $5,000 and $3 million each to fund what are known as bridge loans that usually lasted 10 to 12 weeks, but which could extend for several months.

Some investors said they have spent months trying to get their money back, but the rush to pull out intensified significantly in the wake of allegations that Wall Street fund manager Bernard Madoff bilked investors out of $50 billion in a classic Ponzi scheme.

Mike Kessler, president of Port Jefferson-based private investigation firm Kessler International, said he was hired last summer to help recover nearly $3 million for a New Jersey businessman who had invested with Agape.

“Based upon what we learned about Agape World, it exhibited numerous red flags indicative of a Ponzi scheme, which were promptly reported to law enforcement authorities for further investigation,” Kessler told LIBN.

The Suffolk County District Attorney’s office confirmed that it has been flooded with calls from nervous Agape investors and that it was in contact with the Federal Bureau of Investigation regarding the firm.

The FBI declined comment.

In 1999, Cosmo was sentenced to 21 months in federal prison and ordered to pay $177,000 in restitution for his role in defrauding investors of a Long Island securities dealer. The court also ordered him to undergo gambling therapy as part of his sentence.

Cosmo founded Agape World soon after his release from prison in August 2000 with money from family and friends.


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 Post subject: Re: Agape World inc
PostPosted: Fri Jan 23, 2009 5:26 pm 
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Joined: Tue Dec 23, 2008 9:04 am
Posts: 16
mainecmi, I have a source that claims Nick allegedly owns 70% of carriage and that you allegedly get paid a monthly sum....forgive me if I am incorrect


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 Post subject: Re: Agape World inc
PostPosted: Fri Jan 23, 2009 5:49 pm 
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Joined: Tue Jan 20, 2009 12:00 am
Posts: 22
I believe the posting regaridng the article that was written about AGAPE is a blog, not necessarily a realiable posting. Please confirm.


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 Post subject: Re: Agape World inc
PostPosted: Fri Jan 23, 2009 6:20 pm 
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Joined: Tue Dec 23, 2008 9:04 am
Posts: 16
Long island business news.....Libn.com....for article


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 Post subject: Re: Agape World inc
PostPosted: Fri Jan 23, 2009 7:37 pm 
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Joined: Thu Jan 22, 2009 5:58 pm
Posts: 18
Checkmate:
You are not correctly informed on the ownership. And, you must not understand construction payments. As the contractor we billed AGAPE for the construction work completed and stored on site, and we billed it every month and received timely construction payments. That is done monthly - so at least you got that right. As far as I know, for the 35 years i have been in construction - that is how it works. We bill the funder for the work done, monthly, and we get paid.


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 Post subject: Re: Agape World inc
PostPosted: Fri Jan 23, 2009 7:47 pm 
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Joined: Sun Jan 11, 2009 10:01 pm
Posts: 3
You are not correctly informed on the ownership. And, you must not understand construction payments. As the contractor we billed AGAPE for the construction work completed and stored on site, and we billed it every month and received timely construction payments. That is done monthly - so at least you got that right. As far as I know, for the 35 years i have been in construction - that is how it works. We bill the funder for the work done, monthly, and we get paid. Is this a mystery to you?
_________________________________________________________________________________________________________________

Perhaps you don't understand federal securities law, so here's a quick lesson. When you sell promissory notes to the general public across state lines, those notes must be registered with the SEC except in narrow circumstances/exceptions, none of which Agape World qualifies for. These securities are to be sold only by registered broker-dealers holding licenses to sell such securities.

Nick Cosmo via Agape had unlicensed and uneducated people peddling unregistered securities acorss state lines. He has violated the NY state Martin Act as well as the Federal '33 act even if the "loans" were ever made (which I doubt).


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 Post subject: Re: Agape World inc
PostPosted: Fri Jan 23, 2009 8:19 pm 
THESE ARE THE LAWYERS HANDLING THIS UNFORTUNATE SITUATION FOR ALL INVOLVED!!!!!!!!!!

LINDSAY P. HENRY,PC...........NEW OFFICE ADDRESS: 57 WEST MAIN ST.
SUITE 200
BABYLON VILLAGE ,NY 11702
DANIEL BELANO

CONTACT INFO IS:
631-234-8234 OFFICE

danesq1@optonline.com

LHENRYATTORNEY@OPTONLINE.NET

MEETING START ON MONDAY..NEED TO CALL FOR APPOINTMENT ,DUE TO THE VAST NUMBER OF CALLS. PLEASE CALL OR E-MAIL FOR APPOINTMENT AND BRING IN COPYS OF ALL WIRE TRANSFERS AND LAST CONTRACTS SIGNED, TO AGAPE WORLD AND MERCHANT ADVANCE!.


--------------------------------------------------------------------------------
Know Your Numbers: Get tips and tools to help you improve your credit score.


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 Post subject: Re: Agape World inc
PostPosted: Fri Jan 23, 2009 8:43 pm 
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Joined: Wed Oct 29, 2008 8:00 pm
Posts: 1
Big Will ,

Who is that the lawyer? Do they represent Agape?


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 Post subject: Re: Agape World inc
PostPosted: Fri Jan 23, 2009 8:47 pm 
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Joined: Thu Jan 22, 2009 5:58 pm
Posts: 18
As I stated before. AGAPE may have violated some laws, but that has not included me in the problem. They simply funded a construction project, where they got their money for funding is not in the realm of control by a contractor placing a bill to the funder for payment. So, whatever laws that may have been violated by AGAPE - will someday be charged against them, and if true, AGAPE will pay the piper. In the meantime, as I have stated, we are simply building a project, that has indeed been funded, in part by AGAPE, and for which we have never defaulted on at any time, and now this project may be in peril due to negative press and false inuendos about us up here in Maine. Just get your facts before you smear people who have done nothing wrong. This is a nightmare to everyone involved - not just you.


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 Post subject: Re: Agape World inc
PostPosted: Fri Jan 23, 2009 8:57 pm 
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Joined: Sun Dec 21, 2008 7:07 am
Posts: 8
"In the meantime, as I have stated, we are simply building a project, that has indeed been funded, in part by AGAPE, and for which we have never defaulted on at any time,"

What does "and for which we have never defaulted on at any time" mean. Who is we? As you so kindly explained, you just do the construction and bill the funder. What would you be defaulting on?


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 Post subject: Re: Agape World inc
PostPosted: Fri Jan 23, 2009 9:01 pm 
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Joined: Tue Jan 20, 2009 12:00 am
Posts: 22
Maincemi
seems to me that your gripe shouldn't be with this forum but with AGAPE who is stating your in defualt. why would that be?? we can only state the facts AS WE KNOW them, which we have only gotten from AGAPE and none of it makes sense. They are the ones stating that your in default. a


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