Investor Lawyers Blog
Chistopher J. Gray. P.C. and its co-counsel filed an Amended Complaint in the consolidated class action lawsuit against, among others, Bank of America and certain commodities Futures Commission Merchants alleging aiding and abetting commodities fraud in connection with a fraudulent "Ponzi" scheme known as Agape operated by a man named Nicholas Cosmo (who has also been charged with several crimes by the United States government arising out of the same scheme).
The Amended Complaint, filed July 17, 2009, alleges that Bank of America aided and abetted Cosmo and Agape's scheme by:
a. allowing Cosmo, a convicted felon, to open, direct, control and haveextraordinary access to at least two dozen accounts under different names (among which accounts Cosmo regularly made multi-million dollartransfers of funds);