On or around 06/23/2009 (Notice of voluntarily dismissal)
Filing Date: March 26, 2009
According to the complaint filed March 26, 2009, through Agape, Cosmo falsely convinced Plaintiffs and other investors that he was financing bridge loans for construction projects or other real estate developments. He failed to advise these investors that he re-sold those very same interests hundreds of times to other unknowing investors. For example, he would provide a $1 million dollar loan to a developer and sell participations from investors totaling $60 million from investors. He used the excess or "extra" money raised to: (1) pay handsome returns to early investors and his confederates; (2) reward and incentivize "brokers" who brought in new investor money; and, ultimately (3) conduct rampant and speculative commodities trading. Throughout the scheme he spent investor funds excessively on his own lavish personal lifestyle.
Company & Securities Information
Defendant: Agape World, Inc.
Industry: Insurance (Life)
Headquarters: United States
Company Market: Privately Traded
Market Status: Privately Held
About the Company & Securities Data
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In most cases, the primary company-defendant actually issued the securities that are the subject of the litigation, and the securities information and company information relate to the same entity. In a small subset of cases, however, the primary company-defendant is not the issuer (for example, cases against third party brokers/dealers), and the securities information and company information do not relate to the same entity.
First Identified Complaint
Steve Bonnano, et al. v. Agape World, Inc. , et al.
First Amended Class Action Complaint: (1) Securities Fraud (2) Common Law Fraud (3) Breach Of Fiduciary Duty (4) Aiding And Abetting Common Law Fraud (5) Aiding And Abetting Breach Of Fiduciary Duty (6) Negligence - Demand For Jury Trial
Notice of Voluntary Dismissal Pursuant To F.R.C.P. 41(a)(1)(A)(i)
U.S. District Court Civil Docket
Notice Of Voluntary Dismissal Pursuant To F.R.C.P. 41(a)(1)(A)(i)