Four brokers who are accused of helping to rip off many middle- and working-class investors on Long Island in a large Ponzi scheme were arrested Wednesday by U.S. postal Inspectors and FBI agents. Investigators said the four helped convicted swindler Nicholas Cosmo run a Ponzi scheme where investors lost nearly $200 million. Cosmo was dubbed the “mini-Madoff” because his Ponzi scheme collapsed a short time after Bernie Madoff’s $60 billion fraud came to light. The four suspects were expected to be arraigned later Wednesday. More on NBC New York here.
