Judge: Accused LI schemer broke bail rules
(AP) - A federal judge says a New Yorkbusinessman accused of orchestrating a $413 million Ponzi schemehas violated conditions of his release on bail.
But U.S. District Court Judge Denis Hurley allowed NicholasCosmo to remain free pending a Friday hearing on whether to revokehis $1.25 million bail package.
Hurley agreed with prosecutors following a two-day hearing thatCosmo violated bail conditions by using a computer, and asking hisgirlfriend to download some of his business e-mails.
The former head of Long Island-based Agape Worldand Agape Merchant Advance in New York City has pleaded not guiltyto charges he fleeced some 6,000 people.
He was released in July provided he remain under house arrest athis parent's Wantagh home, which includes monitoring bya private security firm.