CENTRAL ISLIP - ? Officials say three Long Islanders were arrested today after FBI agents launched an early morning raid. According to officials, four top associates of the Long Islander known as the ?mini-Madoff? are accused of making as much as $16 million by scamming victims. Many of the victims are from Long Island. The four associates were key people in Nicolas Cosmo?s Hauppauge-based Agape World and Agape Merchants Advance. Jason Keryc, Anthony Ciccone and Diane Kaylor were arrested and arraigned on Long Island, while Anthony Massaro was arrested and taken into custody in Florida. Massaro will be arraigned at a later date. Each faces multiple charges, including conspiracy to commit fraud and false representation. The complaint alleges that the defendants were accountants and brokers for Agape and knew the company would not return any promised money back to its investors. In the end, investors lost almost $179 million. Attorneys for the trio did not enter pleas in federal court today, and all three will remain in jail until a bail hearing Friday. Prosecution is asking for $500,000 bail, and the judge wants to make sure that any funds used to cover that bail did not come from Agape World. Meanwhile, Cosmo is serving 25 years in prison for running the scam.
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