United States

Fasarakis Indicted In Drug Money Ring

NEW YORK –  The Greek-American community is Astoria was shocked to learn of the indictment and arrest on February 11 of Christos Fasarakis, well-known to the community as a banker, family man and former president of the Cretan Association “Omonia.”

Fasarakis, 42 years old and the father of three, was among seven defendants whose charges included narcotics trafficking, money laundering, and firearms offenses based, in part, on their participation in a transnational heroin and cocaine trafficking conspiracy involving the ‘Ndrangheta, one of Italy’s most powerful organized crime syndicates, and members of the Gambino and Bonanno crime families in the United States

Fasarakis himself was charged with one count of money laundering and one count of money laundering conspiracy. He faces a maximum sentence of 20 years’ imprisonment on each charge. He is free on $1 million bail.

The charges were announced by Loretta E. Lynch, United States Attorney for the Eastern District of New York, and George Venizelos, Assistant Director in Charge, FBI and New York Field Office.

According to the Daily News “FBI Assistant Director George Venizelos said that mob associates do not usually carry out rogue operations of this magnitude and that the Gambino hierarchy ‘probably knew, but that’s part of the ongoing investigation.'”

John Kriaras, also a former president of Omonia stunned. “He was one of our best presidents …he has three children…  I can’t believe it.”


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