Alleged Ponzi Schemer Cosmo To Await Trial In Jail

Law360, New York (October 12, 2009, 12:55 PM ET) -- Agape World Inc. owner Nicholas Cosmo, who federal prosecutors say orchestrated a $413 million Ponzi scheme, will await trial in jail rather than at his parent's home on Long Island, N.Y., now that a judge has revoked his bail for unauthorized computer use.

Judge Dennis Hurley of the U.S. District Court for the Eastern District of New York signed off on an order of detention pending trial on Friday.

Cosmo, who had been under house arrest since July, was accused of using a computer in violation...
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