Cosmo associate surrenders in mail fraud case
Richard Barry surrendered to authorities for charges in the $413 million Ponzi scheme linked to Nicholas Cosmo. (March 5, 2010) Credit: Handout
An associate of alleged swindler Nicholas Cosmo surrendered Friday to federal agents on a charge of conspiracy to commit mail fraud as part of Cosmo's alleged $413-million Ponzi scheme.
Richard Barry of Seaford, who at one time was vice president and office manager of Cosmo's Hauppauge-based Agape companies, appeared before U.S. Magistrate Kathleen Tomlinson at the federal court in Central Islip. He was not required to enter a plea.
Tomlinson released him on $200,000 bail, pending future hearings. As a condition of bail, Barry was ordered to surrender his passport and is forbidden to travel outside the Eastern District - which includes Long Island, Brooklyn, Queens and Staten Island - and also Manhattan, which is in the Southern District, without the permission of the court.
Barry declined to comment Friday, as did his attorney, Lisa Annibale. Federal prosecutor Demetri Jones also declined to comment.
On Thursday, U.S. District Judge Denis Hurley tentatively set Jan. 10 for the start of Cosmo's trial on charges of mail and wire fraud.
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