Victims of 2 Ponzi schemes suing MF Global for lost money

USA Today reports:

The now-bankrupt brokerage headed by former U.S. senator Jon Corzine has been targeted by lawsuits trying to recover millions of dollars stolen by two Ponzi scheme architects.


Federal court records show MF Global, which filed for bankruptcy-court protection on Monday, was sued in January by the trustee seeking assets for victims of Long Island ex-con scammer Nicholas Cosmo.

Cosmo was sentenced last month to 25 years in prison for stealing more than $195 million from investors told they were investing in commercial bridge loans through Cosmo's Agape World and Agape Merchant Advance. He instead diverted the money to pay for personal luxuries and risky bets on foreign currency and other futures trades through MF Global.

No word yet from Democrat party donor Bernie Madoff on Democrat donor Jon Corzine's management style.